Indigenisation and Economic Empowerment Act updated May 2011 47.2 on the request of unit holders holding not less than twenty five percent (25%) of the units then in issue; or 47.3 the managers. Notice of meetings 48.1 Not less than twenty-one (21) days notice, inclusive of the day on which the notice is served or is deemed to be served and of the day for which the notice is given, shall be given by the person calling the meeting to the unit holders, the Board and managers as provided in Part 14. 48.2 The notice shall specify the place and time of the meeting and the terms of any resolutions to be proposed. 48.3 The accidental omission to give notice to or the non-receipt of a notice by any of the unit holders shall no invalidate the proceedings at any meeting. Quorum 49.1 The necessary quorum shall be sufficient persons present in person or proxy representing not less than fifteen per centum (15%) of all units then in issue, and no business shall be transacted at any meeting unless the requisite quorum is present at the commencement of business. 49.2 If within an hour from the time appointed for the meeting a quorum is not present, the meeting shall be adjourned to a day not less than fifteen (15) days thereafter, at a time and place appointed by the chairperson of the meeting and at such adjourned meeting the unit holders present in person or by proxy shall be a quorum. 49.3 Notice of any adjourned meeting shall be given in the same manner as for the original meeting and the notice shall state that the unit holders present at the adjourned meeting, whatever their number and the number of units held by them, will be a quorum. 49.4 The managers shall not be counted in the quorum of any meeting. Procedure at meetings 50.1 The Board shall nominate in writing a person, who need not be a unit holder, to preside at any meeting, and if no person is nominated or if at any meeting the nominated chairperson is not present within 15 minutes after the appointed time, the unit holders present shall choose one of their number to be the chairperson. 50.2 The chairperson may, with the consent of any meeting at which a quorum is present, and shall if so directed by the meeting, adjourn the meeting from time to time and place to place but no business shall be transacted at any adjourned meeting except business which might lawfully have been transacted at the meeting from which the adjournment took place. 50.3 At any meeting all resolutions put to the vote of the meeting shall be decided on a show of hands unless a poll is, before or on the declaration of the result of the show of hands, demanded by the chairperson, or by one or more unit holders present in person or by proxy and holding or representing on-hundredth of the number of issued units. 50.4 Unless a poll is demanded, a declaration by the chairperson that a resolution has been carried or lost shall be conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour of or against such resolution. - 38 -