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South African Postbank Limited Act, 2010 (Act No. 9 of 2010)

Chapter IV : Control and Management of Company

11. Functions of Board


The Board

(a) must give effect to the corporate plan of the Company as contemplated in section 52 of the Public Finance Management Act in order to achieve the objectives of the Company;
(b) is the accounting authority of the Company;
(c) provides guidance to the managing director and personnel of the Company concerning the exercise of the functions of the Company;
(d) must notify the Minister immediately of any matter that may prevent or materially affect the achievement of the objects or financial targets of the Company; and
(e) generally, must refer to the Minister any matter that may adversely affect the functioning of the Company.