Transport Act, 1944
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Legislation Directory Entry
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Chapter V. The Board of Directors. |
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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— |
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(a) a chairman (in this Act referred to as the Chairman), |
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(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. |
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(2) Subject to subsection (4) of this section, the Board may act notwithstanding any vacancy in its membership. |
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(3) The Chairman alone shall constitute a quorum at a meeting of the Board. |
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(4) No meeting of the Board shall be held unless the Chairman is present thereat. |
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(5) No decision shall be arrived at by the Board at any meeting without the concurrence of the Chairman. |