Sri Lanka Consolidated Acts

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Sri Lanka Accounting and Auditing Standards Act (No. 15 of 1995) - Sect 18

Meetings of the Board

18.
(1) The Chairman of the Board shall preside at every meeting of the Board. In the absence of the Chair man from any such meeting, the members present shall elect one of the members to preside at such meeting.
(2) The quorum for any meeting of the Board shall be not less than six members of the Board.
(3) Subject to the provisions of this section the Board may regulate the procedure in regard to the meetings and the transaction of business at such meetings.
(4) No act, decision or proceeding of the Board shall be deemed to be invalid by reason only of the existence of any vacancy among its members or any defect in the appointment of any member thereof.
(5)The Chairman of any meeting of the Board shall, in addition to his own vote, have a casting vote.


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