2.—(1) In the year commencing 1st April 2006 and in each subsequent year the Authority shall hold an annual meeting and those meetings shall be held at such hour as the Authority may fix or, if no hour is fixed, at twelve noon.
(2) In addition to the annual meeting, the Authority shall hold in the year commencing 1st April 2006 and in every succeeding year at least three other meetings for the transaction of general business and those other meetings shall be held at such hour and on such day as the Authority may determine but shall be held as near as may be at regular intervals.