(1) If—
(a) the Board has taken reasonable steps to give notice to each member setting out the terms of a proposed resolution; and
(b) a majority of the 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—
a resolution in those terms is deemed to have been passed at a meeting of the Board held on the day on which the document is signed or, if the members referred to in paragraph (b) do not sign it on the same day, on the day on which the last of those members signs the document.
(2) If a resolution is, under subsection (1), deemed to have been passed at a meeting of the Board, each member must as soon as practicable be advised of the matter and given a copy of the resolution.
(3) For the purposes of subsection (1), 2 or more separate documents containing a statement in identical terms, each of which is signed by one or more members, are deemed to constitute one document.
(4) The majority of members referred to in subsection (1)(b) must not include a member who, because of section 70, is not entitled to vote on the resolution.
(5) This section does not apply to any resolution of the Board relating to a matter being considered under Part 3.