Section 16 in Tamil Nadu State Khadi and Village Industries and Board Regulations, 1961
16. Powers and duties of the standing Finance Committee.
- The Standing Finance Committee shall deal with all applications to the Board for sanction of financial assistance and all sanctions pertaining to the Budget and other financial matters of the Board which are not within the powers of any officer under the control of the Board, and any other matter assigned by the Board. The functions of the Standing Finance Committee will be governed as follows:-(i)Term of office and conditions for reappointment of the members of the Standing Finance Committee. - The members of the Standing Finance Committee shall hold office so long as they continue to be members of the Board and shall on the expiry of their terms of office, he eligible for reappointment, if they are reappointed as members of the Board.(ii)Resignation of office by members. - Any member of the Committee may resign his office at any time and such resignation shall take effect from the date from which it is accepted by the Board.(iii)Meeting of the Committee. - The Committee shall meet at least once a month for the purpose of discharging its functions. It shall be the duty of the Secretary of the Board with the approval of the Chairman of the Committee to call, whenever necessary, meetings of the Committee and to give the members thereof not less than seven days' notice in writing of the date, time and place of the proposed meeting provided, however, that no further notice need be given of an adjourned meeting. The Chairman may reduce the prescribed period of notice whenever it is necessary to call for a meeting of the Committee to consider any emergent business or situation.(iv)Agenda. - The Secretary shall send to each member sufficiently in advance, a copy of the agenda for the meeting together with the notices, if any, on the various subjects, included therein.(v)Special meetings on requisition by members. - The Secretary shall also with the concurred of the Chairman call for special meetings of the Committee on written requisitions signed by not less than two members of the Committee.(vi)Meetings to consider Budget. - There shall be an annual meeting of the Committee to consider the budget of the Board. The Committee shall also meet to consider any supplementary budget of the Board.(vii)Place of meeting. - Unless the Board, otherwise, directs all meetings of the Committee shall be held at the headquarters of the Board.(viii)Presiding Authority. - The Chairman shall preside at every meeting. In his absence, the members present shall elect a Chairman from among themselves.(ix)Quorum. - (a) Quorum for a meeting of the Committee shall be 3 including the Chairman.(b)If, there is no quorum within 30 minutes of the time appointed for the meeting, no meeting shall be held and the Chairman may then and there adjourn the meeting to a specific date. No quorum shall be necessary for an adjourned meeting.(c)If, at any time during the course of the meeting after its commencement, there is no quorum, it shall not be.dissolved but shall continue to be held.(x)Matters to be discussed in the meeting. - (a) Copies of the agenda and notes on the subjects included therein shall be made available to the members, if required during the meeting.(b)No matter other than what is included in the agenda for the meeting shall be considered or discussed at the meeting except with the permission of the Chairman, who may, if he/she considers necessary, put the question to vote.(c)No matter shall be considered at an adjourned meeting other than the matter left over at the meeting from which the adjournment took place:Provided that the Chairman may with due notice bring or direct to be brought before an adjourned meeting any new matter which in his/her opinion is urgent.(d)The Chairman may, without any notice, bring or direct to be brought before a meeting, adjourned or otherwise any new matter which in his/ her opinion is urgent.(e)Any point of order raised in a meeting shall be decided by its Chairman whose decision shall be final.(xi)Voting and decisions. - (a) The members of the Committee including the Chairman shall have one vote each.(b)All question shall be decided by a majority of votes of the members present. In the event of an equality of votes, the Chairman shall have and exercise a casting or second vote.(xii)Officers of the Board not being members thereof or such persons, whose participation in the meeting is considered necessary may be invited to attend any meeting of the Committee.(xiii)In cases not expressly provided for in the rules, the decisions of the Chairman presiding at the meeting on all matters relating to the conduct of business at the meeting shall be final.(xiv)Proceedings of the meeting. - (a) The proceedings of every meeting shall be recorded and compiled by the Secretary, in an appropriate manner subject to approval of the Chairman, a copy being communicated to each member.(b)No proceedings of t^e committee shall be invalidated by reason merely of a vacancy of vacancies existing in the Committee or by reason of non-receipt of notice or the agenda for the meeting or both, provided it was duly issued or by any reason of irregularity in the conduct of the business of the meeting.
