Section 4E in The Indian Iron And Steel Company (Taking Over Of Management) Act,1972
4E. Meetings, etc., of the Board of management. [Inserted by Act 36 of 1974, Section 4 (w.e.f. 28-6-1974) ]
(1)The Board of management shall meet for the transaction of its business at such time and place as it may think fit:Provided that the Chairman may, whenever he thinks fit, and shall, upon the written requisition of not less than two members, call a special meeting.(2)The quorum for a meeting of the Board of management shall be one-third of its total strength (any fraction contained in that one-third be rounded off as one) or three members, whichever is higher.(3)The Chairman, or in his absence, any member chosen by the members present from amongst themselves, shall preside at a meeting of the Board of management.(4)All questions which come up before any meeting of the Board of management shall be decided by a majority of votes of the members present and voting, and in the case of an equality of votes, the Chairman, or, in his absence, the person presiding, shall have a second or casting vote.(5)All orders and decisions of the Board of management shall be authenticated by the signature of the Chairman or any other member authorised by the Board of management in this behalf and all other instruments issued by the undertaking of the company shall be authenticated with the signature of the Administrator or any other officer of the undertaking of the company authorised by the Board of management in this behalf.(6)The Board of management shall regulate its own procedure.][* * * *] [Section 5 omitted by Act 36 of 1974, Section 5 (w.e.f. 28-6-1974) ]
