(1) The Board shall meet at such times and places, and shall observe such rules of procedure in regard to the transaction of business at its meetings, including quorum at such meetings, as may be specified by regulations.

(2) The Chairperson or, in the absence of the Chairperson, such other member as may be nominated by the Chairperson, shall preside at the meetings of the Board.

(3) All questions which come up before any meeting of the Board shall be decided by a majority of votes by the members present and voting, and in the event of an equality of votes, the Chairperson or the member presiding the meeting shall have a second or casting vote.