Development Bank of Southern Africa Act, 1997 (Act No. 13 of 1997)11. Meetings |
| (1) |
| (a) | The Minister, in the case of a shareholders’ meeting, and, in the case of a board meeting, the chairperson, shall preside at the meeting in question. |
| (b) | In the case of a board meeting, and provided a quorum is present, the members present may elect an acting chairperson to preside at that meeting, if the chairperson is not present. The acting chairperson shall at such meeting have all the powers and carry out all the duties of the chairperson. |
| (2) | The Minister and the chairperson shall in the event of an equality of votes have a casting vote. |
| (3) | The quorum for a meeting of shareholders shall be a majority of the shareholders, and the quorum for a meeting of the board shall be five directors. |
| (4) | Subject to the provisions of subsection (2), the decision of— |
| (a) | a majority of the shareholders shall be the decision of the shareholders; and |
| (b) | the majority of the directors present at a meeting of the board shall be the decision of the board. |
| (5) | The meetings referred to in this section shall be held and the business thereat shall be disposed of in accordance with the provisions of the regulations. |