Housing Development Agency Act, 2008
R 385
National Student Financial Aid Scheme Act, 1999 (Act No. 56 of 1999)Chapter 2 : Establishment, Composition, Governance and Functions of NSFAS5. Composition of board |
| 1) | Subject to subsection (4), the board consists of– |
| a) | 13 members appointed by the Minister of whom– |
| i) | one member must be employed by the Department; |
| ii) | one member must be nominated by the Minister of Finance; |
| iii) | one member must be designated by the Minister as chairperson of the board; and |
| iv) | three members must be nominated by national organisations representing students; |
| b) | not more than four members who may be co-opted by the board; and |
| c) | the executive officer contemplated in section 9(1), who is the secretary and who has no voting rights. |
| 2) | The selection of the appointed members and co-opted members must be undertaken in such a manner as to ensure, insofar as is practically possible, that– |
| a) | the functions of the NSFAS in terms of this Act are performed according to the highest professional standards; |
| b) | the membership taken as a whole– |
| i) | is broadly representative of the higher education system and related interests; |
| ii) | has deep knowledge and understanding of higher education; |
| iii) | has financial expertise and experience; |
| iv) | appreciates the role of the higher education system in reconstruction and development; and |
| v) | has known and attested commitment to the interests of higher education; and |
| c) | due attention is given to the representivity of the board on such relevant factors as race, gender and disability. |
| 3) | The Minister must, by notice in the Gazette and a national newspaper circulating in every province of the Republic, and by any other means necessary, invite nominations for the appointed members of the board from– |
| a) | the public; |
| b) | the CHE; |
| c) | national organisations representing– |
| i) | students; |
| ii) | academic employees; |
| iii) | employees other than academic employees; |
| iv) | university principals; |
| v) | technikon principals; |
| vi) | higher education college principals; |
| vii) | organised business; and |
| viii) | organised labour; and |
| d) | non-governmental organisations. |
| 4) | The Minister must consider the nominations contemplated in subsection (3) in appointing the members contemplated in subsection (1)(a), subject to subsections (2) and (5). |
| 5) | At least three of the members contemplated in subsection (1)(a) must be appointed on account of their particular financial experience and expertise. |
