Section 7
Proceedings of the Board of Directors
of Housing Development Corporation Ordinance, 2002
—
(1)
All meetings of the Board of Directors shall be presided by the Chairman or in his absence, by the Deputy Chairman.
(2)
No meetings of the Board of Directors shall be held or conducted unless a quorum comprising not less than five members, including the Chairman or Deputy Chairman, is present.
(3)
The Board may act or proceed with the discharge of its functions notwithstanding any vacancy in its membership.
(4)
The Board may establish or form any committee, comprising any of the members or officers or employees of the
Corporation and such other persons as the Board may deem fit, and may delegate to such committee such functions and powers as the
Board considers fit and proper:
Provided that no delegation hereunder shall preclude the Board itself from performing at any time any of the functions or powers so delegated.
(5)
Subject to the approval of the Minister, the Board of
Directors may make standing orders to regulate its own procedures or the procedures of any committee established under subsection (4), and in particular, the holding and conduct of its meetings, the notice to be given of such meetings, the proceedings thereat, the keeping of minutes and the production and inspection thereof by members or other persons.
Disclosure of interest in contract by member of the Board of
Directors
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