Section 13

The Standing Committee shall meet at least once in every three lunar months for the despatch of business and to discuss the management and affairs of, and matters of interest to, the Corporation and three members of the Standing Committee shall form a quorum:

Provided always that upon the receipt by the Secretary of a requisition by any member of the Standing Committee at any time, the Secretary shall convene a meeting of the Standing Committee within seven days from the date of receipt of such requisition.

The Chairman of the Corporation shall preside at all meetings of the Standing Committee. In his absence the Vice-Chairman of the Corporation shall preside or in the absence of both the Chairman and Vice-Chairman the members shall appoint one of their number to preside.

All questions arising at any meeting of the Standing Committee shall be decided by a majority of votes and each member present shall be entitled to one vote and in the case of an equality of votes the Chairman or the person presiding at the meeting shall have an additional or casting vote.

The Standing Committee shall cause to be kept minutes of the proceedings of all meetings of the Standing Committee and such minutes shall be submitted for confirmation at the next

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Cheng Hoon Teng Temple (Incorporation)

succeeding meeting of the Standing Committee and if then confirmed, with or without amendment as the case may require, shall be signed by the Chairman or the person presiding at the meeting at which such confirmation is made and thereafter shall be prima facie evidence of all proceedings evidenced thereby.

The Standing Committee shall cause proper books of account to be kept and therein to be entered full particulars of all assets and liabilities and of all receipts and disbursements on account of the Corporation and of all other matters and things relative thereto and necessary to explain such entries and the Standing Committee shall cause such books of account to be audited annually by an auditor authorized as such under the Companies Act 1965

[Act 125] and every other law for the time being in force concerning joint stock companies.

Not later than the end of the fifth lunar month in each year according to the old Chinese calendar, the Standing Committee shall cause to be prepared, audited by an auditor authorized as such under the Companies Act 1965 and every other law for the time being in force concerning joint stock companies, and distributed to all members of the Corporation, a statement in the form of a balance sheet containing particulars of all assets and liabilities of the Corporation and an account of the receipts and disbursements during the Chinese lunar year preceding.

Charges on funds of the Corporation 14.

Every member of the Standing Committee shall be indemnified out of the funds of the Corporation against all costs, charges, expenses, losses and liabilities incurred by him in the management of the affairs of the Corporation or in the discharge of his duties, and no member of the Standing Committee shall be liable for the acts, defaults or omission of any other member of the Standing

Committee, or by reason of his having joined in any receipt for money not received by him personally, or for any loss on account of defect of title to any property acquired by the Corporation or on account of the insufficiency of any security in or upon which any moneys of the Corporation shall be invested, or for any loss incurred through any bank, broker or other agent or for any loss or damage arising from or out of the bankruptcy, insolvency or tortious act of any person with whom any moneys, securities or effects have been deposited or occasioned by any error of judgment or oversight on his part, or for any other loss, damage or misfortune

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whatever which shall happen in the execution of the duties of his office or in relation thereto, unless the same shall happen through his wilful act or default.