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Government Gazette 17 May 2001
No. 2532
or any other person who acts as chairperson shall determine the procedure of
the meeting over which he or she presides.
(6) The majority of the members constituting a Board of Trustees shall
form a quorum for a meeting thereof.
(7) A decision of a majority of members present at any meeting of a
Board of Trustees shall be a decision of the Board and, in the event of an
equality of votes, the chairperson shall have a casting vote in addition to his or
her deliberative vote.
(8) The chairperson at any meeting of a Board of Trustees shall cause a
written record to be kept of the proceedings at such meeting.
(9) No decision taken by a Board of Trustees or act performed under the
authority of such a Board shall be invalid merely by reason of(a) a vacancy on that Board; or
(b) the fact that any person who is not entitled to sit as a member of that
Board was in attendance when the decision was taken or the act was
authorised,
if the decision was taken or the act was authorised by the required majority of
the members of that Board then present and entitled to sit as members.
(10) A Board of Trustees may make rules determining the procedure to
be followed at its meetings and at the meetings of any of its committees.
Powers and duties of Board of Trustees
10. (1) A Board of Trustees shall, with due regard to r egulation 4(2),
manage and control a Community Trust Fund in respect of which it was
established and for that purpose the Board (a) shall receive all moneys due to the Fund and administer and apply
the moneys of the Fund;
(b) shall in the name of the Fund, open and maintain with a banking
institution, authorised to conduct banking business under the
Banking Institutions Act, 1998 (Act No. 2 of 1998), or a building
society finally registered in terms of the Building Societies Act,
1986 (Act No. 2 of 1986), one or more accounts into which all
moneys received on behalf of the Fund shall be deposited;
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