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Public Investment Corporation Act, 2004 (Act No. 23 of 2004)

6. Board of directors



(1) The Minister must, in consultation with Cabinet, determine and appoint the members of the board.


(2) The Minister must, when appointing the board, have due regard to the nominations submitted to him or her by the depositors.


(3) The members of the board must be appointed on the grounds of their knowledge and experience, with due regard to the FAIS Act, which, when considered collectively, should enable the board to attain the objects of the corporation.


(4) The Minister may issue directives to the board regarding the management of the corporation if—
(a) it is in the public interest; or
(b) it is reasonably necessary to do so.