AGM. 2008: Rule No,17(a) & (17(b)
17(a) The property and funds of the Asiatic Society of Mumbai shall be vested in the Trust. Not more than Six Trustees shall be invited by the Annual General Body Meeting on the recommendation of the managing Committee to hold the office for a period of six years. One-third of the Trustees will retire every two years. However, two members of the first Board of Trustees will retire after the first two years and will be replaced
by two Trustees, who will be invited by the Annual General Body Meeting on the recommendation of the Managing Committee and who will hold office for six years. Two other members of the first Board of Trustees will retire after the first four years and will be replaced by two Trustees, who will be recommended by the Managing Committee and invited by the AGM and who will hold office for six years, The Board of Trustees will decide the time when each of the first Trustees shall retire by rotation.

17(b) In the event of a vacancy in the office of a Trustee, caused by death, resignation, or otherwise. the vacancy shall be filled by the appointment of a Trustee who shall be invited by the Annual General Body Meeting on the recommendation of the Managing Committee to hold the office for the unexpired portion of the six years tenure.

18. At the Annual General body Meeting at which elections to the Managing Committee are held. two Statutory Auditors shall be appointed to audit the accounts of the Society on a quarterly basis for the following two years Such Auditors shall have access to all the books of accounts of the Society and shall report on the financial position of the Society's audited accounts and Auditor's report at the close of each financial year.

19 The election of an office-bearer, or of a member of the Committee, may be cancelled on the recommendation of three-fourths of the Committee members present and voting after a due hearing given to the office-bearer or member of the Committee concerned The recommendation, to be effective must be confirmed by two-third vote of a General Body meeting Pending such confirmation by the General Body, the office bearer/member shall be considered ineligible to handle management of the Society or participation in any of its sub-committees unless the Managing Committee specifies to the contrary. It shall be competent for the committee of Management to refuse to any other member the use of the Library in case of improper conduct, but in every instance in which such powers are exercised, a report of the circumstances shall be made to the next General Body Meeting held subsequent to the exclusion.

20 The Managing Committee shall meet at least once in two months and shall be summoned by the Hon.Secretary, under the sanction of the President or in his/her absence, of a Vice-President or on the requisition of any six members of the Committee.

21 No business shall be transacted by the Managing Committee at such meetings unless six members are present. No quorum is required for an adjourned meeting.

22. The Manfging Committee shall have power to appoint sub-committee for dealing with specific matters referred to them and to elect delegates to conferences or other similar gatherings, as well as representatives on other bodies. The chaiman and the Convener of the Sub-Committees shall be elected by the respective committees except where the Vice-President is a member, he/she is ex-officio chairperson of that committee. In the event of difference of opinion between the Committee and the Managing Committee on issues pertaining to the specific matters assigned to the Sub-Committees, the final decision shall be taken in the joint meeting of the SubCommittee and the Managing Committee and the Managing Committee shall not take any decision unilaterally.