Mutual Banks Act, 1993
R 385
Financial Services Ombud Schemes Act, 2004 (Act No. 37 of 2004)6. Meetings and decisions of Council |
| (1) | The Council must meet at least twice in any financial year, or such sufficient number of times so as to arrange for the performance of its functions and must regulate its meetings in accordance with the rules and procedures to be established by the Council within six months after the appointment of the first members to the Council. |
| (2) |
| (a) | The chairperson or the deputy chairperson presides at meetings of the Council, but if both are absent from a meeting the members present must elect another member to act as chairperson of that meeting. |
| (b) | At least half the appointed members form a quorum. |
| (3) | The decisions of the Council are valid if taken by a simple majority of members in office at the relevant time, and in the event of an equality of votes on any matter the chairperson presiding at the meeting in question shall have a casting vote in addition to the chairperson’s deliberative vote. |
