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

Chapter IV : Control and Management of Company

15. Resignation, removal from office and vacating of office


(1) A member of the Board may resign by giving to the Minister—
(a) one month's written notice; or
(b) less than one month's written notice, with the approval of the Minister.


(2) The Minister may, after having afforded the member of the Board concerned a reasonable opportunity to be heard, remove the member from office if that member—
(a) acted in conflict with this Act;
(b) refuses or fails to make a declaration contemplated in section 13(3)(b) or refuses or fails to make disclosure as contemplated in section 16(2);
(c) after having been appointed, acquires any direct or indirect interest contemplated in section 13(3)(b)(ii), read with section 13(1)(g);
(d) neglected to properly perform the functions of his or her office;
(e) in accordance with the Banks Act and after the Registrar of Banks has informed the Minister, is no longer a fit and proper person to hold that appointment; or
(f) is absent from three consecutive Board meetings without prior leave of the Chairperson.


(3) A member of the Board must vacate the office if he or she becomes disqualified from membership of the Board in terms of section 13.