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srilawsby aturio
As enacted
Contents

Part II · Establishment of the Secured Transactions Registration Authority

11. Meetings of the Board

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Board shall meet at least once in every quarter and the Chairman shall preside at all meetings of the Board.

In the absence of the Chairman from any meeting of the Board, the members present shall elect a member from among themselves, to preside at such meeting.

(2)

The quorum for any meeting of the Board shall be three members and the Board shall regulate the procedure for the conduct of its meetings and the transaction of business at such meetings.

(3)

All questions for decision at any meeting of the

Board shall be decided by the majority vote of the members present at such meeting. In the case of an equality of votes, the Chairman or the member presiding at the meeting, shall, in addition to his vote, have a casting vote.

(4)

Any act, proceeding or decision of the Board shall not be invalidated by reason only of the existence of any vacancy among its membership or any defect in the nomination of any person who is nominated to represent a member of the Board.

Read on from s 12

Part III

Creation of Security Rights and Rights of Parties

Read on from Part III

Part IV

Perfection

Read on from Part IV

Part V

Priorities

Read on from Part V

Part VI

Registration

Read on from Part VI

Part VII

General Provisions

Read on from Part VII

Part VIII

Repeals and Savings

Read on from Part VIII

Part IX

Interpretation

Read on from Part IX