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Meetings and procedures.
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20.— (1) IFI shall hold such and so many meetings as may be necessary for the performance of its functions but in each year shall hold not less than 6 meetings.
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(2) The Minister, in consultation with the chairperson of IFI, shall fix the date and time of the first meeting.
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(3) The chairperson may at any reasonable time call a meeting of IFI.
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(4) Any 3 members may call a meeting of IFI if the chairperson—
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(a) refuses to call a meeting after being presented with a requisition for that purpose signed by not fewer than 3 members, or
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(b) without refusing to call a meeting, does not call one within 7 days after being presented with such requisition.
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(5) The quorum for a meeting of IFI is 5.
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(6) The chairperson of IFI shall chair any meetings of IFI except in the case that the chairperson is not present or such office is vacant in which case the members who are present shall choose one of their number, other than the chief executive, to chair the meeting.
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(7) Each question at a meeting shall be determined by a majority of the votes of the members present and voting on the question.
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(8) In the case of an equal division of votes, the chairperson or other member presiding at the meeting has a second or casting vote.
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(9) As long as there is a quorum, IFI may act despite one or more than one vacancy among its members.
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(10) Subject to this Act, IFI shall regulate, by standing orders or otherwise, the procedures and business of IFI.
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(11) Non-compliance with a standing order of IFI does not invalidate a decision of IFI.
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(12) IFI may perform any of its functions through or by any of its officers or servants or any other person duly authorised by IFI in that behalf, but nothing in this subsection shall be construed as enabling any person to execute on behalf of IFI any document under seal.
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(13) (a) IFI may accept gifts of money, land or other property upon such terms and conditions (if any) as shall be specified by the donor.
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(b) IFI shall not accept a gift if the conditions attached by the donor to the acceptance are inconsistent with the functions of IFI.
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