Commonwealth Consolidated Acts

RESERVE BANK ACT 1959 - SECT 25H

                   A resolution is taken to have been passed at a meeting of the Payments System Board if:

                     (a)  the Payments System Board has determined:

                              (i)  that resolutions may be passed in accordance with this section; and

                             (ii)  the method of indicating agreement with a resolution passed in accordance with this section; and

                     (b)  without meeting, a majority of the members indicate agreement with the resolution in accordance with the method determined by the Payments System Board; and

                     (c)  the majority would have constituted a quorum at a meeting of the Payments System Board; and

                     (d)  all members were informed of the proposed resolution, or reasonable efforts were made to inform all members of the proposed resolution.