Section 60 in The Orissa State Financial Corporation General Regulations, 2003
60. Meetings of the Executive Committee.
- (i) The Executive Committee shall ordinarily meet once during each quarter at the Head Office of the Corporation or at such other place within the jurisdiction of the Corporation as the Managing Director may decide to attend to the business of the Corporation as may be delegated to it by the Board, from time to time. Sufficient notice shall be given to the members of the Committee to enable them to attend the meeting.(ii)The Board may delegate to the Executive Committee powers to transact all the usual business of the Corporation except such matters as are specifically reserved to the Board under the Act or any Regulations made thereunder.(iii)In the exercise of its powers, the Executive Committee shall be bound by such general or special directions as the Board may give from time to time.(iv)Quorum for the transaction of business at a meeting of the Executive Committee shall be one-third of the total strength of the executive Committee (any fraction contained in that one-third being rounded off as one) or not less than two members of the Committee, whichever is less.(v)The provisions of the Act, and save as otherwise provided in these regulations, these regulations shall apply to the meetings of the Executive Committee as if they were meetings of the Board.
