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SCHEDULES

SCHEDULE 1DEVELOPMENT CORPORATIONS

Proceedings

10.—(1) Subject to the following provisions of this paragraph and paragraph 11, a development corporation may regulate –

(a)its own procedure (including quorum); and

(b)the procedure (including quorum) of its committees.

(2) A development corporation shall make provision for a quorum for meetings of its committees to include at least one member or employee of the corporation.

11.—(1) A member who is in any way, directly or indirectly, interested in any matter which falls to be considered by a development corporation shall disclose the nature of his interest at a meeting of the corporation and the disclosure shall be recorded in the minutes of the meeting.

(2) Where such a disclosure is made by any member in relation to any matter, he shall not take part in any deliberation or decision of the corporation with respect to the matter, if the corporation decides that the interest in question might prejudicially affect the member’s consideration of the matter.

(3) For the purposes of this paragraph a notice given by a member at a meeting of the corporation to the effect that he is a member of a specified body corporate or firm and is to be regarded as interested in any matter concerning the body or firm which falls to be considered by the corporation after the date of the notice shall be a sufficient disclosure of his interest.

(4) A member need not attend in person at a meeting of the corporation in order to make a disclosure which he is required to make under this paragraph, if he takes reasonable steps to secure that the disclosure is made by a notice which is taken into consideration at such a meeting.

(5) Sub-paragraphs (1) to (4) apply in relation to committees of the corporation as they apply in relation to the corporation.

12.  The validity of any proceedings of a development corporation, or of any of its committees, shall not be affected by –

(a)any vacancy among the members of the corporation or of members of the committee;

(b)any vacancy in the office of the chairman or deputy chairman of the corporation;

(c)any defect in the appointment of any one or more members or of the chairman or deputy chairman of the corporation; or

(d)any failure to comply with paragraph 11.