(1) The Authority shall meet atleast once in six months at such place and at such time as the Chairman may decide and shall, subject to the provisions of section 6, observe such rules of procedure in regard to the transaction of business at its meeting (including the quorum thereat) as may be laid down by regulations.

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(2) The Chairman or in his absence, the Vice-Chairman shall preside at every meeting of the Authority. If for any reason both the Chairman and the Vice-Chairman are unable to attend any meeting, any other member of the Authority, elected by the members thereof, present at the meeting, shall preside.