Paragraph 3: Operation and meetings.

The Board of Directors is convened by its Chairman. It meets at least six times a year.

The Board of Directors shall adopt rules of procedure relating to its operation. These rules of procedure determine in particular the composition and powers of the Audit Committee provided for in Article L. 5312-5, which is attended by the representative of the Economic and Financial Control Board, and of the Evaluation Committee provided for in Article L. 5312-5, as well as the conditions under which these committees may call on…

The agenda for each meeting is drawn up by the Chairman, after consultation with the Vice-Chairmen, and on the proposal of the Director General. A meeting may be convened at the request of the Minister for Employment, the Managing Director or a majority of the members on a specific agenda.

The Board of Directors may only validly deliberate if at least ten of its members are present. If this number is not reached, the Board is reconvened within fifteen days. It may then validly deliberate regardless of the number of members present. Voting by proxy is permitted. A Board member may only hold one proxy; Decisions are taken by a majority of the members present or represented, with the exception…

The General Manager shall provide secretarial services for the Board of Directors. A copy of the minutes of each meeting of the Board of Directors, signed by the Chairman, is sent to the members of the Board of Directors and to the representative of the General Economic and Financial Control.