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Co-operative Banks Act, 2007 (Act No. 40 of 2007)

Chapter IX : Co-Operative Banks Development Agency

Part 2 : Governance of Agency

62. Meetings

 

(1) The Agency meets as often as circumstances require, but at least four times every year, at such time and place as the Agency may determine.

 

(2) The chairperson may at any time convene a special meeting of the Agency at a time and place determined by the chairperson.

 

(3) Upon a written request signed by not less than three members of the Agency, the chairperson must convene a special meeting of the Agency to be held within three weeks after the receipt of the request, and the meeting must take place at a time and place determined by the chairperson.

 

(4) A majority of the members of the Agency constitutes a quorum at a meeting.

 

(5)
(a) Every member of the Agency, including the chairperson, has one vote.
(b) In the event of an equality of votes, the chairperson of the meeting has a casting vote in addition to his or her deliberative vote.