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National Empowerment Fund Act, 1998 (Act No. 105 of 1998)

7. Disqualification of trustees

 

 

(1)        A person may not be appointed or continue as a trustee if such person—

(a) is not a citizen of the Republic;
(b) is not permanently resident in the Republic;
(c) is an unrehabilitated insolvent;
(d) is of unsound mind, or is subject to an order of a competent court declaring such person to be mentally ill or mentally disordered;
(e) has at any time been convicted, whether in the Republic or elsewhere, of theft, fraud, forgery and uttering, perjury, an offence in terms of the Corruption Act, 1992 (Act No. 94 of 1992), or any other offence involving dishonesty; or
(f) has at any time been removed from an office of trust on account of misconduct.

 

(2) A person who is subject to a disqualification contemplated in subsection (1)(b) or (c) may be nominated for appointment and may be appointed as a trustee if at the time of such appointment he or she is no longer subject to that disqualification.