(1) A committee of inspection appointed in pursuance of this Act (the "committee") shall meet at such times as they from time to time appoint, and the liquidator or any member of the committee may also call a meeting of the committee as and when he or she thinks necessary.
(2) The committee may act by a majority of their members present at a meeting but shall not act unless a majority of the committee is present.
(3) A member of the committee may resign by notice in writing signed by him or her and delivered to the liquidator.
(4) A person's office as member of the committee becomes vacant if and upon any of the following happening:
(a) the person is adjudicated bankrupt or compounds or arranges with his or her creditors;
(b) the person is absent from 2 consecutive meetings of the committee without the leave of those persons who, together with himself or herself, were appointed as members of the committee by the creditors or, as the case may be, members of the company.
(5) A member of
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