National Environmental Management Act, 1998 (Act No. 107 of 1998)
Financial Provisioning Regulations, 2015
6. Resignation of Trustees
|6.1||Should a Trustee resign then the remaining Trustees shall immediately appoint a Trustee to fill that vacancy. Should there be a sole corporate Trustee and should such sole Trustee wish to resign, it may do so on 30 days’ notice in writing to the Commissioner and the Minister responsible for mineral resources. In such event the Founder shall appoint a new corporate Trustee, or two or more natural persons as Trustees, by no later than the date of resignation of the sole Trustee.|
|6.2||A Trustee may resign at any time on giving 30 days’ notice in writing to the remaining Trustees of his or her intention to do so and shall in any case be deemed to have vacated his or her office if he or she is no longer employed by the beneficiary or any of its subsidiaries.|
|6.3||A Trustee shall be deemed to have vacated his/her office if he/she is or becomes ineligible to be a Trustee under this deed for any reason.|
|6.4||Should (i) the remaining Trustee/s not appoint a new Trustee to replace one who has resigned or is deemed to have vacated his or her office within 30 days of such resignation or vacation being effective, or (ii) the Founder not appoint a new Trustee or Trustees to replace a corporate Trustee who has resigned within one month of such resignation being effective, then in either such case the Minister responsible for mineral resources shall be entitled to appoint one or more Trustees hereunder.|
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