The Industrial Property Act, 2001
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reason only of a vacancy among the members thereof.
(8) Subject to the provisions of this Schedule, the Board may determine its
own procedure and the procedure for any committee of the Board or the
attendance of other persons at its meetings and may make standing orders in
respect thereof.
Committees of
the Board
4. (1) The Board may establish such committees as it may deem appropriate
to perform such functions and responsibilities as it may determine.
(2) The Board shall appoint the chairman of a committee established under
subparagraph (1) from amongst its own members.
(3) The Board may where it deems appropriate, co -opt any person to attend
the deliberations of any of its committees.
Disclosure of
interest
5. (1) If a member is directly or indirectly interested in any contract,
proposed contract or other matter before the Board and is present at a
meeting of the Board at which the contract, proposed contract or other
matter is the subject of consideration, he shall, at the meeting and as soon as
reasonably practicable after the commencement thereof, disclose the fact and
shall not take part in the consideration or discussion of, or vote on, any
questions with respect to the contract or other matter, or be counted in the
quorum of the meeting during consideration of the matter.
(2) A disclosure of interest made under this paragraph shall be recorded in
the minutes of the meeting at which it is made.
The common seal
6.The affixing of the common seal of the Institute shall be authenticated by
the signature of the Chairman and the Managing Director and any document
not required by law to be made under seal and all decisions of the Board may
be authenticated by the signatures of the Chairman and the Managing
Director:
Provided that the Board shall, in the absence of either the Chairman or the
Managing Director in any particular matter, nominate one member to
authenticate the seal on behalf of either the Chairman or the Managing
Director.
Contracts and
instruments
7.Any contract or instrument which, if entered into or executed by a person
not being a body corporate, would not require to be under seal, may be
entered into or executed on behalf of the Board by any person generally or
specially authorised by the Board for that purpose.
SECOND SCHEDULE
(s. 121 (2))
TRANSITIONAL AND SAVING PROVISIONS
1.In this Schedule Cap. 509
“former Act” means the Industrial Property Act repealed by section 121 of