Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
National Empowerment Fund Act, 1998 (Act No. 105 of 1998)13. Meetings of Board |
| (1) | Meetings of the Board must be held at such times and places as may be determined by the Board but the first meeting must be held at such time and place as the chairperson may determine. |
| (2) | In the absence of the chairperson at a meeting the remaining trustees must from their number elect an acting chairperson. |
(3)
| (a) | The chairperson may, at any time within reasonable notice, convene a special meeting of the Board, which must be held at such time and place as the chairperson may determine. |
| (b) | Two trustees may in writing request the Chairperson to convene a special meeting. |
| (c) | The trustees must convene a special meeting if the chairperson fails to convene a special meeting within seven days after receiving a request. |
(4)
| (a) | The quorum for any meeting of the Board, at any time must either be a minimum of five trustees or 50 per cent of the trustees in office at that time, whichever number is the greater; |
| (b) | If 50 per cent of the trustees is a fraction, the number required shall be the nearest higher whole number. |
(5)
| (a) | A decision of the Board must be taken by resolution agreed to by the majority of trustees present at a meeting of the Board subject to subsection (4). |
| (b) | The Chairperson must have a deliberative vote, and in the event of an equality of votes, a casting vote. |
(6) The seat of the Trust must be determined by the trustees in consultation with the Minister.
