Resolutions without meetings

(1) Where– (a) copies of a document setting out a proposed resolution of the Board are received by at least Five Directors, including the Chief Executive Officer; and (b) at least four such Directors, excluding the Chief Executive Officer, sign a copy of the document, then the Board shall for all purposes be taken to have passed a resolution in the terms set out in the document at a meeting of Aquaculture Development [CAP. 204:01 23 (2) The resolution is to be taken to have been passed– (a) on the day on which copies of the document were signed by the Directors; or (b) if the copies were signed on different days, on the latest of those days.