Regulation 74 — Audit Regulations 2020
Original Rule Text
# 74. Meetings of Audit Board
The meetings of the Audit Board shall be held with the available members and there shall be no requirement of a quorum. The Secretary to the Audit Board shall keep the minutes of the meetings of the Audit Board.
What This Means
Audit Board meetings can be held with whatever members are available — there is no minimum quorum requirement. This ensures the Board's work is not delayed by the unavailability of individual members. The Secretary to the Board is responsible for maintaining minutes of all meetings.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1No quorum requirement for Audit Board meetings
- 2Meetings proceed with available members
- 3The Secretary maintains minutes of all meetings
- 4This flexible approach prevents procedural delays
Practical Example
The Audit Board schedules a meeting to discuss the draft performance audit report on MTNL and BSNL. Two of the five members are on other assignments. Rather than postponing, the meeting proceeds with the three available members, including the Chairperson. The Secretary records the minutes, including the recommendations made, for circulation to all members.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why is there no quorum requirement?▼
Are minutes of Audit Board meetings shared with the company being audited?▼
Can a single member hold a valid Audit Board meeting?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.