Prevention of Money Laundering Act (Cap. 373), article 21

21. (1) The Board shall meet within one month from its constitution and as often as m ay be necessary or expedient thereafter, but in no case less frequently than ten times in ea ch year. The meetings of the Board shall be called by the Chairman on hi s own initiative or at the request of any two of the other member s or at the request of the Director. (2) The Board shall not act unless a quorum consisting of the Chairman or Deputy Chairman and not less than two other members is present. (3) The meetings of the Board shall be chaired by the Chairman, or in his absen ce, by the Deputy Chairman. (4) The decisions of the Board shall be adopted by a simple majority of the votes of the members present and voting and in the event of an equality of votes the member presiding at the meeti ng shall have and exercise a second or casting vote. (5) The Director shall be entitled to attend the meetings of the Board and to take part in the di scussions, but shall have no vo te. Saving the provisions of sub-article (2) the absence of the Dir ector from any meeting shall not invalidate the proceedings of the meeting. (6) Any vacancy among the mem bers of the Board, and any participation therein by a person not entitled so to do, shall not invalidate the proceedings of the Board. (7) Subject to the provisions of this Act, the Board may regulate its own procedure. (8) All acts done by any person acting in good faith as a member of the Unit shall be valid as if he were a member notwithstanding that some defect in his appointment or qualification be afte rwards discovered. Decisions in case of emergency. Added by: XXXI. 2001.4.