receipt or other act for conformity's sake, or for any loss or expense to the Society

by insufficiency or deficiency of any security upon which any of the monies of the

Society may be invested, or for any loss or damage arising from the bankruptcy,

insolvency or tortious act of any person with whom any monies, securities or

effects shall be deposited, or misfortune whatsoever which shall happen in the

execution of his office or in relation thereto through no neglect and default on his

part;

(g) to keep and maintain proper accounts and books for all kinds of business and

submit all statutory returns;

(h) to prepare the Annual Balance Sheet, Revenue Account and Profit and Loss

Account in such form as may be prescribed by law in such manner as the Registrar

may prescribe;

(i) to consider and approve or object to applications for membership of the Society or

applications for additional shares in the Society;

(j) to delegate any or all of the aforesaid powers to any officer or officers of the

Society as the Board thinks fit. Any officer to whom any of the aforesaid powers

may be delegated, shall, in exercise of his powers, conform to all such regulations

as may be prescribed by the Board. All acts done by any such officer in conformity

with such regulations and in fulfilment of his appointment, but not otherwise, shall

have the same force as if done by the Board;

(k) to commence, institute, prosecute, defend, and compromise all such actions and

suits as the Board may think necessary and proper to bring or to defend or to

compromise and submit the same for arbitration;

,<

(1) to appoint committees or sub-cominittees; and

(m) to call for and regularly examine reports from committees, sub-committees, officers

or employees which will disclose the true status of the Society, its operations and

[mancial conditions.

7.13 The Board of Directors shall meet as often as necessary for the conduct of the affairs of

the Society and in any case not less frequently than once in three months.

7.14 The quorum for a meeting of the Board of Directors shall be not less than one half of

the total number of its members'. In the absence of the Chairman or the Vice-Chairman,

the members shall elect a Chairman for the meeting. Decisions shall be taken on a

simple majority of votes. The Chairman shall have no casting vote.

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