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

Regulations Relating to the South African Reserve Bank

Chapter IV : Directors

15. Disclosure of interest



15.1) Any director, relative of a director, or company, organisation or partnership in which the director has a material interest, wishing to contract with the Bank, must prior to entering into the contract, lodge for disclosure to the Board, as applicable -
a) particulars of the proposed agreement;
b) the director's interest in the agreement;
c) the director's interest in or association with the contracting party.


15.2) A director having an interest or association described in Regulation 15.1 (b) or (c), must disclose that to the Board and may not vote when the Board decides on the matter.


15.3) Failure to make the disclosure required by Regulation 15.1 shall render the contract voidable at the instance of the Bank.