Acts Online
GT Shield

Companies Act, 2008 (Act No. 71 of 2008)

Chapter 8 : Regulatory Agencies and Administration of Act

Part B : Companies Tribunal

194. Appointment of Companies Tribunal

 

 

1) The Minister must—
a) appoint the chairperson and other members of the Companies Tribunal no later than the date on which this Act comes into operation; and
b) appoint a person to fill any vacancy on the Tribunal.

 

2) A person may not be—
a) appointed as chairperson or member of the Tribunal unless the person satisfies the requirements of section 205; or
b) reappointed to a second term as chairperson of the Tribunal.

 

3) The Tribunal must comprise—
a) persons with suitable qualifications and experience in economics, law, commerce, industry or public affairs; and
b) sufficient persons with legal training and experience to satisfy the requirements of section 195(3)(a).

 

4) The Minister must designate a member of the Tribunal as deputy chairperson of the Tribunal.

 

5) The deputy chairperson performs the functions of chairperson whenever—
a) the office of chairperson is vacant; or
b) the chairperson is for any other reason temporarily unable to perform those functions.

 

6) Sections 206 and 207 apply to the chairperson and other members of the Tribunal.

 

7) The chairperson and each other member of the Tribunal serves for a term of five years and may, subject to subsection (2)(b), be reappointed for a second term.