Section 3 in The National Housing Bank General Regulations, 1988
3. Meetings of the Board
.-(1) The Board shall ordinarily meet once a quarter in each year.(2)Meetings of the Board shall be convened by the Chairman, or in his absence, by the Managing Director or in the absence of both, by any other director nominated by the Chairman or the Managing Director, as the case may be, and shall be held at Delhi or at such other place in India as may be directed by the Board.(3)Any five directors may, for the purpose of the consideration of the business to be specified in their requisition, require the Chairman or the Managing Director to convene a meeting of the Board and the Chairman or the Managing Director as the case may be, shall, on receipt of such requisition, convene a meeting of the Board giving sufficient notice:Provided that the date of the meeting so convened shall not be later than 21 days from the date of the requisition.(4)Ordinarily, not less than one clear fortnight's notice shall be given of each meeting of the Board and such notice shall be sent to every director to his registered address. Should it be necessary to convene an emergency meeting, sufficient notice shall be given to every director who is at that time in India.(5)No business other than that for which the meeting was convened shall be discussed at a meeting of the Board, except with the consent of the person presiding at the meeting.(6)Five directors, of whom one shall be a director nominated under clause (d) or clause (e) of sub-section (1) of section 6 of the Act, shall form a quorum for the transaction of business.(7)A copy of the minutes of each meeting of the Board shall be signed by the person presiding and circulated for the information of the directors as soon as possible after the meeting and shall be signed by the person presiding at the next succeeding meeting by way of confirmation.
