105
When candi
date for office of director
must give nctice.
Convening of board.
Meeting and adjournment of board.
Quorum of directors.
Director interested to
be counted in a quorum.
How ques- tions to be decided.
Chairman
and deputy chairman.
Chairman and deputy chairman, at commence- ment of ordinance to continue in office. Who to preside at meetings of board.
Powers of
quorum.
Delegation
of powers by board.
24
99. Subject to the provisions of regulation 98, no person, not being a retiring Director, shall, unless recommended by the Board for election, be eligible for election to the office of Director at the general meeting unless he or some shareholder (duly qualified to be present and vote at the meet- ing for which such notice is given) intending to propose him, has, at least fourteen days before the meeting, left at the Head Office a notice in writ- ing, duly signed and addressed to the Chief Manager, signifying his can- didature for the office, or the intention of such shareholder to propose him, as the case may be.
Proceedings of the Board.
100. (1) A Board meeting shall be convened by the Chief Manager by written notice and shall be held so often as the Board considers that the purposes of the Bank require, or at any time upon requisition of two of the Directors who shall specify in writing to the Chief Manager the pur- pose for which they require the meeting to be held: which purpose shall be communicated by the Chief Manager to the other Directors in the notice. convening such special meeting. It shall not be necessary to give notice. of a meeting of the Board to a Director who is not within the Colony.
(2) Subject to sub-section (1) hereof, the Board shall be convened or adjourned in such manner and at such time or place and subject to such notice of the business to be transacted thereat as the Board may from time to time determine.
101. The Board may determine the quorum necessary for the transac- tion of business. Until otherwise determined three Directors shall be a quorum.
102. A Director who is interested is to be counted in a quorum not- withstanding his interest. His right of voting is limited by regulation 92.
103. Questions arising at any meeting of the Board shall be decided by a majority of votes, and in case of an equality of votes the Chairman shall have a second or casting vote.
104. The Board shall from time to time elect one of their members to be the Chairman and another of their members to be the Deputy Chairman of the Board and shall determine the period for which they are respectively to hold office, and they shall respectively continue in office until others are elected in their or either of their stead: it being the intention of these re- gulations that the duration of office of the Chairman and Deputy Chairman shall be wholly in the discretion of the Board.
105. On the commencement of the Ordinance the Chairman and the Deputy Chairman of the Board then in office shall continue to be the Chair- man and the Deputy Chairman respectively of the Board.
106. The Chairman, or in his absence the Deputy Chairman, shall preside at every meeting of the Board but if both be absent or there be no Chairman or Deputy Chairman, or if at any meeting the Chairman or Deputy Chairman be not present within ten minutes after the time appointed for holding the meeting, the Directors present shall elect one of their num- her to be Chairman of such meeting, and the Director so elected shall preside at such meeting accordingly.
107. Any meeting of the Board at which a quorum is present shall (subject to the provisions of regulation 89) be competent to exercise all or any of the authorities, powers and discretions for the time being vested in or exercisable by the Board.
108. The Board may from time to time delegate all or any of its powers except the power to make calls on shareholders to a Committee or Committees of the Board consisting of such member or members of its
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