Commonwealth Consolidated Acts Commonwealth Consolidated ActsA 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.