Land and Agricultural Development Bank Act, 2002 (Act No. 15 of 2002)Part II : Management of Bank13. Meetings of Board |
| (1) | The Board members must, not less than once every three months, meet at such time and place and in such manner as the chairperson may from time to time determine. |
| (2) | The chairperson— |
| (a) | may at any time convene an extraordinary meeting of the Board to be held at the time and place and in the manner determined by the chairperson; |
| (b) | must, upon receipt of a written request of two other members, convene an extraordinary meeting of the Board to be held within 14 days after the date of receipt of that request, at the time and place and in the manner determined by the chairperson; and |
| (c) | in the event of an extraordinary meeting being convened in terms of paragraph (a) or (b), must, by way of the most expeditious medium, give notice to all Board members of that meeting and the matter to be discussed at that meeting. |
| (3) | The person presiding at a meeting of the Board must determine a fair and reasonable procedure to be followed at that meeting. |
| (4) | At a meeting of the Board— |
| (a) | the quorum is half the number of Board members appointed at that time plus one; |
| (b) | a decision approved by the majority of the Board members present at a duly constituted meeting is a decision of the Board; |
| (c) | in the event of an equality of votes being cast by the Board members present at a meeting, the person presiding at that meeting has a deciding vote in addition to his or her deliberative vote. |