20.Quorum for meeting of the Committee.- (1) No business shall be transacted at a meeting of the Committee unless there are present, as near as may be, one half of the total number of the members of the Committee: Provided that at least one Director nominated by the Board of Directors on the Committee, is present in the meeting. (2) If within half an hour from the time appointed for holding the meeting the quorum is not present, the meeting shall stand adjourned to the same day in the next week at the same time and place and notice of such adjourned meeting shall be given to each member , who is not present at the meeting on the same day by post or telegram or special messenger as the needs of the case may require. (3) If at any adjourned meeting also the quorum is not present within half an hour from the time appointed for holding the meeting the members present shall form the quorum. |