PART VI
MEETINGS AND REPORTS
ARTICLE 85
MEETINGS OF THE BOARD
(1) The Board shall meet not less than once every three months.
(2) The chairman may at any time summon a special meeting of the Board and shall summon such a meeting within seven days of the receipt of a request for that purpose addressed to him by any three directors.
(3) A simple majority of directors shall constitute a quorum.
(4) Unless otherwise specified, decisions of the Board shall be made by a majority of the votes of the members present and the chairman shall have an original and a casting vote.
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(5)(a) Notwithstanding the provisions of paragraph (4), decisions may also be made by the Board otherwise than in a meeting convened, by the circulation of the relevant papers among members of the Board, and such members of the Board may signify their approval or disapproval.
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(b) Members of the Board may signify their opinion on the matter or question in writing, by electronic mail, facsimile or by telephone.
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(c) If in any such case a difference of opinion arises among the members of the Board or any member of the Board so requires, the matter or question shall be reserved for discussion at a meeting of the Board.
(6) Decisions made under paragraph (5) shall be brought up for noting at the next meeting of the Board.
(7) A decision by resolution under paragraph (5) shall be valid when signed by all the directors entitled to vote on that resolution at a meeting of the directors.
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(8)(a) The Board may hold or continue a meeting by the use of any means of communication by which all the participants can hear and be heard at the same time.
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(b) A member of the Board who participates in such a meeting is taken for all purposes to have been present at the meeting.
(9) The Board may regulate its own procedure at meetings.
(10) At the end of each meeting the Board shall issue a statement on its deliberations and decisions.
ARTICLE 86
MINUTES
(1) The secretary shall cause minutes to be made in books kept for the purpose of —
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(a) all appointment of officers made by the directors;
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(b) the names of directors present at each meeting of the directors and of any committee of directors; and
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(c) all resolutions and proceedings at all meetings of the Corporation, directors and committees.
(2) A copy of every resolution referred to under paragraph (7) of Article 85 shall be kept with the minutes of the proceedings of the directors.
ARTICLE 87
QUARTERLY REPORTS
(1) The Corporation shall prepare and lay a quarterly report of its activities and accounts before the Monetary Council or any other sub-committee of the Monetary Council that the Monetary Council so directs within thirty days of the end of the quarter.
(2) The Monetary Council or any other sub-committee of the Monetary Council under paragraph (1) shall assess the extent to which the Corporation has made progress towards achieving its purposes articulated under this Agreement.
(3) The Monetary Council or any other sub-committee of the Monetary Council under paragraph (1) shall forward to the Minister of Finance in each member territory a copy of each quarterly report, such reports to be published in the official Gazette, website or a newspaper of wide circulation.
(4) A quarterly report under this Article may be in a form determined by the Monetary Council, and shall include any information that the Monetary Council or any sub-committee under paragraph (1) requires.
ARTICLE 88
OTHER REPORTS
(1) The Monetary Council or any other sub-committee of the Monetary Council under paragraph (1) of Article 87 may require the Corporation to report to them at any time on any matter relating to its functions, including but not limited to the progress with regard to the achievement of the Corporation's purposes.
(2) The Corporation shall promptly comply with a requirement under paragraph (1).