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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Regulations

Financial Sector Regulations, 2018

Part 2 : Appointment of Commissioner and Deputy Commissioners of Financial Sector Conduct Authority

10. Appointment by Minister

 

(1) The Minister must consider the list submitted by the Shortlisting Panel referred to in regulation 9(6)(a)(iii), read with regulation 9(6)(c), when appointing the Commissioner or a Deputy Commissioner.

 

(2) If the Minister decides that there is no candidate on the list suitable for appointment as Commissioner or a Deputy Commissioner, the Minister may—
(a) request the Director-General of the National Treasury to re-advertise the position, and the Shortlisting Panel to identify additional suitable candidates for appointment; or
(b) appoint any suitable person meeting the criteria in regulation 11 who is not on the list submitted by the Shortlisting Panel referred to in regulation 9(6)(a)(iii), read with regulation 9(6)(c).

 

(3) Upon the appointment by the Minister of a candidate as the Commissioner or a Deputy Commissioner, the following must be made public:
(a) The recommendations made by the Shortlisting Panel regarding the appointment to the position; and
(b) if the Minister appoints a person referred to in subregulation (2)(b), the Minister’s reasons for making the appointment.

 

[Regulation 10 substituted by section 5 of Notice No. 850, GG43581, dated 5 August 2020]