(1) The Law Society Council may by resolution delegate all or any of its functions in relation to the Fidelity Fund to a Management Committee consisting of--(a) 3 or more persons who are members of the Council, and(b) not more than 8 persons who are not members of the Council but are members of the Law Society.
(2) The Law Society Council may by resolution rescind or vary a resolution made under subsection (1).
(3) The Law Society Council may terminate a person's membership of the Committee and may fill the subsequent or any other vacancy.
(4) At a meeting of the Committee, 3 members, including at least 1 member of the Law Society Council, constitute a quorum.
(5) At a meeting of the Committee--(a) a member of the Committee appointed for the purpose by the Law Society Council is to preside, or(b) if he or she is absent from the meeting, another member of the Committee elected for the purpose by those present at the meeting is to preside.
(6) The decision of a majority of the members present and voting at a meeting of the Committee is a decision of the Committee and, in the event of an equality of votes, the member presiding at the meeting is entitled to an additional vote as a casting vote.
(7) The Committee may call, adjourn, and regulate the conduct of its meetings as it thinks fit.