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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 14 : Ombuds

Part 1 : Ombud Council

185. Meetings of Board

 

(1)

(a) The Board must meet on a quarterly basis or as often as necessary for the performance of its functions.
(b) An audio or audio-visual conference among a majority of the members of the Board, which enables each participating member to hear and be heard by each of  the other participating members, must be regarded to be a meeting of the Board, and each participating member must be regarded as being present at such a meeting.

 

(2) Meetings of the Board are to be at times and, except where subsection (1)(b) applies, at places determined by the Chairperson.

 

(3) A quorum for a meeting of the Board is a majority of its members.

 

(4)

(a) The Chairperson chairs the meetings of the Board at which the Chairperson is present.
(b) If the Chairperson is not present at a meeting, the Deputy Chairperson chairs the meeting.

 

(5) The person chairing a meeting of the Board may invite or allow any other person to attend a meeting of the Board, but a person who is invited has no right to vote at the meeting.

 

(6) The members may regulate proceedings at Board meetings as they consider appropriate.

 

(7) The Chairperson must ensure that minutes of each meeting of the Board are kept in a manner determined by the Chairperson.

 

[Section 185 to take effect on 1 April 2020, per Notice No. 1130 of 2019, GG 42677, dated 30 August 2019]