Section 11. Meetings of Boards.

(1) 11. Meetings of 1[Board].-- A 1[Board] shall meet at such times and places and shall, subject to the provisions of sub-sections (2) and (3), observe such rules of procedure in regard to transaction of business at its meetings as may be provided by regulations made under this Act: Provided that the 1[Board] shall meet at least once in every three months. (2) The person to preside at a meeting of a 2[Board] shall be the Chairman thereof, or in his absence from any meeting, the Vice-Chairman, if any, or in the absence of both the Chairman and the Vice-Chairman, 3[such Director as may be chosen by the Directors present] from among themselves to preside. (3) All questions at a meeting of a 2[Board] shall be decided by a majority of votes of the members present, and in the case of equality of votes, the Chairman or, in his absence, any other person presiding shall have a second or casting vote.