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Co-operative Banks Act, 2007 (Act No. 40 of 2007)

Chapter IX : Co-operative Banks Development Agency

Part 2 : Governance of Agency

67. Establishment of committees

 

(1) The Agency may establish committees to assist it in the performance of its functions and it may at any time dissolve or reconstitute any such committee.

 

(2)
(a) A committee consists of as many members as the Agency considers necessary.
(b) The Agency, taking into account, amongst other factors, the need for transparency and representivity within the broader demographics of the South African population, may appoint any person as a member of a committee, on such terms and conditions as the Agency may determine.
(c) The Agency may terminate the membership of a member of a committee if—
(i) the exercise and performance by the member of the powers and functions of that committee is unsatisfactory;
(ii) the member, either through illness or for any other reason, is unable to perform the functions of the committee effectively; or
(iii) the member has failed to comply with or breached any legislation regulating the conduct of members, including any applicable code of conduct.
(d) If the Agency does not designate a chairperson for a committee the committee may elect a chairperson from among its members.

 

(3) The Agency must provide funding to its committees in such a way that the committees are able to perform their functions effectively.

 

(4) Sections 62 and 63 relating to meetings and decisions of the Agency, respectively, apply with the necessary changes in respect of any committee.