Transport Act, 1944

Chapter V.

The Board of Directors.

The board of directors of the Company.

37.—(1) The Company shall be directed by a board of directors (in this Chapter and in the Fourth Schedule to this Act referred to as the Board) which shall consist of—

(a) a chairman (in this Act referred to as the Chairman),

(b) such number of other directors (in this Chapter and in the Fourth Schedule to this Act referred to as stockholders' directors) as is provided by the said Fourth Schedule.

(2) Subject to subsection (4) of this section, the Board may act notwithstanding any vacancy in its membership.

(3) The Chairman alone shall constitute a quorum at a meeting of the Board.

(4) No meeting of the Board shall be held unless the Chairman is present thereat.

(5) No decision shall be arrived at by the Board at any meeting without the concurrence of the Chairman.