(1)
| (a) |
The Board determines its procedures at meetings. |
| (b) |
Seventy per cent of serving members constitutes a quorum at any meeting of the Board. |
| (c) |
A decision taken by the Board or an act performed under that decision is not invalid merely by reason of— |
| (i) |
any irregularity in the appointment of a member; |
| (ii) |
a vacancy in the Board; or |
| (iii) |
the fact that any person not entitled to sit as a member sat as such at the time when the decision was taken, |
provided such decision was taken by a majority of the members present at the time and entitled so to sit, and those members at the time constituted a quorum.
(2)
| (a) |
The Board may appoint one or more committees with the concurrence of the Minister, but must appoint the following committees: |
| (i) |
Remuneration and Performance Committee; |
| (ii) |
Human Resources and Transformation Committee; and |
| (b) |
Committees that exist when this Act takes effect, continue to exist for a period of six months after the commencement. |
(3) The Board must—
| (a) |
assign members of the Board to serve on a committee, based on their knowledge and skills; |
| (i) |
terms of reference of a committee; |
| (ii) |
composition of a committee; |
| (iii) |
tenure of members of a committee; |
| (iv) |
reporting mechanisms of a committee; and |
| (v) |
method and reasons for removal of a member from a committee. |
| (4) |
Non-executive members of the Board must make up the majority of the members of a committee. |
| (5) |
The Board may appoint any person with particular knowledge, expertise or qualifications to assist a committee in the performance of its functions. |
| (6) |
Unless specially delegated by the Board, a committee has no decision-making powers, and can only make recommendations to the Board. |
| (7) |
A committee must meet as often as is necessary in order to carry out its functions and may determine its own procedures. |
| (8) |
Each committee must be chaired by a non-executive member of the Board. |
Contingency Fees Act, 1997
