Bank of Madras Act, 1843, 9 of 1843 (Rep., Act 5 of 1862)

Section XXIII. And it is hereby enacted, that the presence of at least three Directors shall be necessary to form a

Repealed or not in force · As amended up to 2026-08

XXIII. And it is hereby enacted, that the presence of at least three Directors shall be necessary to form a Board for the transaction of business, and the said Directors shall establish a weekly rotation among themselves, so that not less than three Directors may attend every Meeting of Directors, provided always that nothing herein contained shall be held to preclude any Director from attending any Meeting of Directors.

Source: India Code