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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

200. Executive of Panel

 

 

1) The Panel may subject to subsection (4) appoint—
a) an Executive Director; and
b) one or more deputy Executive Directors,

on terms and conditions determined by the Panel.

 

2) The Executive Director may—
a) perform any function of the Panel, subject to—
i) this Act and the Takeover Regulations; and
ii) the policies and direction of the Panel; and
b) appoint other officers and employees as are required for the proper performance of functions of the Panel.

 

3) A deputy Executive Director may perform any function of the Executive Director when the office of the Executive Director is vacant, or when the Executive Director is absent or is for any reason unable to perform the functions of that office.

 

4) The chairperson of the Panel, designated in terms of section 198, in consultation with the Minister and with the concurrence of the Minister of Finance, may determine the remuneration, allowances, benefits, and conditions of appointment of-
a) the Executive Director;
b) each member of the Panel, and
c) each member of the Takeover Special Committee.