Currency Act, 1927

Procedure of the Commission.

33.—(1) The Commission may, by rules or otherwise as it thinks fit, regulate its own procedure.

(2) Three Commissioners personally present shall form a quorum at a meeting of the Commission.

(3) Save as is otherwise provided in this Act, the Commission may act notwithstanding one or more vacancies in its membership.

(4) At any meeting of the Commission the Chairman may, in the event of an equality of votes, exercise a casting vote except in regard to any of the following matters, that is to say:—

(a) declaring an ordinary Commissioner to be disqualified from holding office as such Commissioner, or

(b) admitting a bank to be a Shareholding Bank, or

(c) removing a bank from being a Shareholding Bank, or

(d) fixing the maximum amount of consolidated bank notes which may under this Act be outstanding otherwise than on an extraordinary issue, or

(e) fixing the quota or proportion of consolidated bank notes which may under this Act be outstanding with a Shareholding Bank.