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Regulation 1 Meetings of the Commissioners

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Meetings of the Public Works Loan Commissioners (hereinafter referred to as “the Commissioners”) shall be convened by the Secretary to the Commissioners from time to time, as the business to be transacted may require.

(2)

If at any meeting the chairman is not present, the deputy chairman shall be the chairman of the meeting; if neither the chairman nor the deputy chairman is present, the Commissioners present shall choose one of their number to be the chairman of the meeting.

(3)

Three Commissioners shall form a quorum.

(4)

All questions arising at any meeting shall be decided by a majority of votes, and in the event of an equality of votes the chairman of the meeting shall have a second or casting vote.

(5)

A minute book shall be kept, in which applications for loans and minutes of the proceedings of the Commissioners shall be recorded.