Page:Accountants Act 2004.pdf/64

64 Oversight Committee may act notwithstanding vacancy

6. The Oversight Committee may act notwithstanding any vacancy in its membership.

Meetings of Oversight Committee

7.—(1) The Oversight Committee shall meet for the despatch of business at such times and places as the Chairman may from time to time appoint.

(2) At any meeting of the Oversight Committee, 3 members shall form a quorum.

(3) The Chairman shall preside at all meetings of the Oversight Committee and in his absence, the temporary Chairman shall preside at the meeting.

(4) All questions arising at any meeting shall be decided by a majority of the votes of the members present and voting; except that in the case of an equality of votes, the Chairman or temporary Chairman shall have a casting vote.

(5) Subject to the provisions of this Act, the Oversight Committee may regulate its own procedure generally and, in particular, regarding the holding of meetings, the notice to be given of such meetings, the proceedings thereat, the keeping of minutes and the custody, production and inspection of such minutes.

Common seal and execution of documents

8.—(1) The Oversight Committee shall have a common seal and such seal may, from time to time, be broken, changed, altered and made anew as the Oversight Committee thinks fit.

(2) The common seal shall be kept in the custody of the Chairman and shall be authenticated by the Chairman or by the temporary Chairman in the absence of the Chairman.

(3) Any document purporting to be sealed with the common seal and so authenticated shall, until the contrary is proved, be deemed to be validly executed.