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

Chapter 8 : Regulatory Agencies and Administration of Act

Part C : Takeover Regulation Panel

199. Meetings of Panel

 

 

1) The chairperson of the Panel
a) may determine the date, time and place for meetings of the Panel; and
b) presides at meetings of the Panel, if present.

 

2) In the absence of the chairperson, and both deputy chairpersons, at a meeting of the Panel the members present may choose one of their number to preside at the meeting.

 

3) The Takeover Regulations must determine the quorum for a meeting of the Panel.

 

4) The member presiding at a meeting of the Panel may determine the procedure at the meeting.

 

5) The decision of a majority of the members of the Panel present at any meeting at which there is a quorum is the decision of the Panel.

 

6) If there is an equality of votes on any question before a meeting of the Panel—
a) the member presiding at the meeting may cast a deciding vote, if that presiding member did not initially have or cast a vote; or
b) the matter being voted on fails, in any other case.

 

7) Proceedings of the Panel are valid despite any vacancy that existed on the Panel at the time, or the absence of any member during any part of those proceedings.

 

8) The Panel may delegate the exercise of any of its powers or performance of any of its functions to the chairperson, any member of the Executive as contemplated in terms of section 200, any committee that the Panel may establish, or any member of the Panel.