| (1) |
The Minister must make the regulations required by the Act. |
| (2) |
The Minister may, on his or her own initiative or at the request of the shareholders or the board, make the regulations permitted by the Act and regulations regarding— |
| (a) |
the election of directors; |
| (b) |
the conditions of appointment of directors and the circumstances in which a director shall vacate the office of director; |
| (c) |
meetings of the board and the procedure thereat, including the minutes to be kept of such meetings; |
| (d) |
the taking of decisions by shareholders and directors without holding a meeting; |
| (e) |
the meetings of shareholders, the matters to be dealt with and the procedures to be followed thereat, including the minutes to be kept thereof; |
| (f) |
the annual submission of a balance sheet and accounts to a meeting of shareholders; |
| (g) |
the appointment of officers of the Bank; |
| (h) |
[Section 17(2)(h) deleted by section 7 of Act No. 41 of 2014] |
| (hA) |
the use of callable capital of the Bank to calculate its leverage ratio; and |
| (i) |
any ancillary or incidental administrative or procedural matter that is necessary to prescribe for the proper implementation or administration of this Act. |
[Section 17 amended by section 7 of Act No. 41 of 2014]
Protection of Businesses Act, 1978
