11.     Meetings of Board

            (1) Subject to the provisions of this Act, the Board shall regulate its own procedure.

            (2) The Board shall meet as often as it is necessary or expedient for the discharge of its functions, and such meetings shall be held at such places, times and days as the Chairman may determine.

            (3) Meetings of the Board shall be called by the Chairman; and the Chairman may also call a special meeting of the Board within seven days of receipt of a request in writing of at least three members of the Board for such special meeting to be held.

            (4) Three members of the Board shall form a quorum.

            (5) At any meeting of the Board, the Chairman shall preside, and in his absence the Vice-Chairman; in the absence of both the Chairman and the Vice-Chairman, the members of the Board present shall elect from among their number, a chairman for purposes of that meeting.

            (6) The decisions of the Board shall be by a majority of votes and, in the event of an equality of votes, the Chairman shall have a casting vote in addition to his deliberative vote.

            (7) Minutes of each meeting of the Board shall be kept and shall be confirmed at a subsequent meeting of the Board.

12.     Declaration of interest by Board members

            (1) If at any meeting of the Board a Board member is aware or becomes aware that a matter which affects him beneficially directly or indirectly is to be discussed, he shall forthwith declare, to the Board, his interest in the matter and the Board may, if it considers it appropriate, require him to recuse himself from the discussion on that matter.

            (2) Any Board member who fails to comply with the provisions of subsection (1) shall be guilty of an offence and shall be liable to a fine of not less than P10 000,00 but not more than P30 000,00.

13.     Signification of documents

            All documents made by, and all decisions of, the Board may be signified under the hand of the Chairman of the Board, or any member or senior officer of the Authority generally or specially authorized in that behalf.

14.     Accounts and Audit

            (1) The Authority shall keep proper accounts and records in relation thereto, and shall prepare in respect of each financial year a statement of accounts showing in detail the assets and liabilities (real and contingent) and income and expenditure of the Authority, in a form which shall conform with the best commercial accounting standards applicable to the provision of telecommunications services.

            (2) The accounts of the Authority in respect of each financial year shall, within four months or such extended time after the end thereof as the Minister may direct, be audited by such auditor as may be appointed by the Authority.

            (3) The auditor shall report in respect of the accounts for each financial year, in addition to any other matter on which he deems it pertinent to comment, whether or not-

     (a)     he has received all the information and explanations which, to the best of his knowledge and belief, were necessary for the performance of his duties as auditor;

     (b)     the accounts and related records of the Authority have been properly kept;

     (c)     the Authority has complied with all the financial provisions of this Act with which it is the duty of the Authority to comply; and

     (d)     the statement of accounts prepared by the Authority was prepared on a basis consistent with that of the preceding year and represents a true and fair view of the transactions and financial affairs of the Authority.

            (4) The report of the auditor and a copy of the audited accounts shall, within fourteen days of the completion thereof, be forwarded to the Minister and to the Authority.

            (5) The Minister shall, within 30 days of receiving the report and a copy of the audited accounts, lay such report and accounts before the National Assembly.

15.     Annual report

            (1) The Authority shall, within a period of six months after the end of the financial year or within such longer period as the Minister may approve, submit to the Minister a comprehensive report on its operations during such year together with the auditors' report and the audited accounts as provided for in section 14, and the Authority shall publish them in such manner as the Minister may specify.

            (2) The Minister shall, within 30 days of his receiving the Authority's report, lay such report before the National Assembly.