(1) A resolution is taken to have been passed at a meeting of the Liability Committee if—
(a) the Liability Committee has taken reasonable steps to give notice to each member setting out the terms of a proposed resolution; and
(b) a majority of members for the time being sign a document containing a statement that they are in favour of the resolution in the terms set out in the document.
(2) The terms of a resolution that is taken to have been passed at a meeting of the Liability Committee under subsection (1) are the terms referred to in subsection (1)(a).
(3) The day on which a resolution is taken to have been passed at a meeting of the Liability Committee under subsection (1) is—
(a) the day on which the document is signed; or
(b) if the members referred to in subsection (1)(b) do not sign it on the same day, on the day on which the last of those members signs the document.
(4) If a resolution is, under subsection (1), taken to have been passed at a meeting of the Liability Committee, each member must as soon as practicable be advised of the matter and given a copy of the resolution.
(5) For the purposes of this section, 2 or more separate documents containing a statement in identical terms, each of which is signed by one or more members, are taken to constitute one document.
(6) In this section, "member", in relation to a resolution, does not include a member who, under section 110, is not entitled to vote on the resolution.