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South African Reserve Bank Act, 1989 (Act No. 90 of 1989)

9. Validity of Board's decisions and acts



No decision or act of the Board or act performed under the authority of the Board shall be invalid by reason only of the fact that-

a) the Board did not consist of the full number of directors prescribed in section 4 (1); or
b) a disqualified person or a person with respect to whose election as director the provisions of the regulations had not been observed, sat or acted as a director,

at the time when the decision was taken or the act was performed or authorized, provided, in the case where such disqualified or invalidly elected person sat or acted as a director, the directors who were present at the time and who were in fact entitled to sit or act as directors constituted a quorum, and a majority of the last-mentioned directors voted in favour of the decision taken or the act performed or authorized.