A person is disqualified from being appointed or remaining as a member of the board if—
| (a) |
he or she is not a South African citizen; |
| (b) |
he or she is an unrehabilitated insolvent; |
| (c) |
he or she is of unsound mind; |
| (i) |
employed in accordance with section 8 of the Public Service Act, 1994 (Proclamation No. 103 of 1994); |
| (ii) |
an employee of any other organ of state, other than a person contemplated in section 10(2)(c) to (e); or |
| (iii) |
a special adviser to a Minister or member of an executive council; |
| (e) |
he or she is a member of— |
| (ii) |
a provincial legislature; |
| (iii) |
a municipal council; |
| (v) |
the Executive Council of a province; or |
| (vi) |
the National House of Traditional Leaders or a Provincial House of Traditional Leaders; |
| (f) |
he or she failed to declare that his or her spouse, life partner, immediate family member, business partner or associate holds an office in, or is employed by, or has any other interest whatsoever, whether direct or indirect, in any company or other entity which supplies goods or renders services to the Regulator; |
| (g) |
he or she is disqualified from acting as a director of a company incorporated in terms of the Companies Act, 2008 (Act No. 71 of 2008); |
| (h) |
he or she has been found in any civil or criminal proceedings by a court of law, whether in the Republic or elsewhere, to have acted fraudulently, dishonestly, unprofessionally, dishonourably or in breach of a fiduciary duty; |
| (i) |
he or she has been found guilty of any offence for which he or she was sentenced to direct imprisonment without the option of a fine, other than an offence committed prior to 27 April 1994 demonstrably associated with political objectives; |
| (j) |
his or her name is listed by the National Treasury on its Register for Tender Defaulters, established by section 29 of the Prevention and Combating of Corrupt Activities Act, 2004 (Act No. 12 of 2004), or if he or she is, at the time of appointment as board member or during the period of such appointment, a director, member, trustee, partner, shareholder, holder of membership or other beneficial interest of a juristic person listed on that Register; |
| (k) |
he or she has been discharged from a position of trust; |
| (l) |
his or her membership of a board or other accounting authority of a public entity defined in section 1 of the Public Finance Management Act, has been prematurely terminated due to dishonesty; |
| (m) |
he or she serves on more than three boards of directors, whether private or public; |
| (n) |
he or she serves on the board of a state-owned company or public entity that is regulated by the Regulator; or |
| (o) |
he or she is in the employ of, is remunerated by, or receives any other benefit from, a safety permit holder. |
Platinum Membership
