Procedures of the Committee

(1) A quorum for a meeting of the Committee shall be one of the members ex-officio and a majority of the non-ex-officio (2) All decisions of the Committee shall be made by the affirmative vote of a majority of the members present and voting and if there is an equality of votes, the Chairperson shall have a second or casting vote. (3) The Committee shall meet not less frequently than once in every four months, and the first meeting of the Committee shall be held as soon as reasonably possible after the appointment of the members. (4) Subject to this section, the Committee shall decide its own rules and procedures, and the Chairperson shall promptly provide the Public Information Office with a true and fair copy of the rules or any amendments to them. (5) The Financial Secretary or the Governor may each, in case of inability to attend a Committee meeting for reasons beyond his control, but on not more than two consecutive occasions, designate the next most senior official in the Ministry of Finance or the Central Bank, as the case may be, to represent him at a meeting of the Investment Committee, Provided that the representative of the Financial Secretary may only chair a meeting of the Committee in the absence of the Governor.