(1) The Board shall meet at such time and place, and shall observe such rules of procedure in regard to the transaction of business at its meetings (including the quorum at such meetings) as may be provided by regulations:
     Provided that the Board shall meet at least once in six months.
     (2) The Chairman and in his absence the Vice-Chairman shall preside at the meetings of the Board.
     (3) If for any reason the Chairman or the Vice-Chairman is unable to attend any meeting of the Board, any other member chosen by the members present at the meeting shall preside at the meeting.
     (4) All questions which come up before any meeting of the Board shall be decided by a majority of the votes of the members present and voting, and in the event of an equality of votes, the Chairman, or in his absence, the person presiding, shall have and exercise a second or casting vote.
     (5) Members other than ex officio members shall receive such allowances, if any, from the Board as may be prescribed.