Chairing directors' meetings (replaceable rule see
section 135)
(1) The directors may elect a director to chair their
meetings. The directors may determine the period for which the director is to
be the chair.
(2) The directors must elect a director present to chair a meeting, or part of
it, if:
(a)
a director has not already been elected to chair the meeting; or
(b)
a previously elected chair is not available or declines to act, for the
meeting or the part of the meeting.