Close Corporations Act, 1984
R 385
Broadcasting Act, 1999 (Act No. 4 of 1999)Chapter IV : Public Broadcasting Service and Charter of CorporationPart 5 : Governance of Corporation17. Disclosure of conflict of interests |
| (1) | A person may not be appointed on the Board, unless the necessary disclosure has been made that such person— |
| (a) | directly or indirectly, whether personally or through his or her spouse, partner or associate, has a direct or indirect financial interest in the telecommunications, broadcasting or printed media industry; |
| (b) | or his or her spouse, partner or associate, holds an office in or is employed by any company, organisation or other body, whether corporate or incorporate, which has a direct or indirect financial interest of the nature contemplated in paragraph (e); |
| (2) | If at any stage during the course of any proceedings before the Board it appears that any Board member has or may have an interest which may cause such conflict of interest to arise on his or her part— |
| (a) | such Board member must forthwith fully disclose the nature of his or her interest and leave the meeting so as to enable the remaining Board members to discuss the matter and determine whether such Board member is precluded from participating in such meeting by reason of a conflict of interest; and |
| (b) | such disclosure and the decision taken by the remaining Board members regarding such determination, must be recorded in the minutes of the meeting in question; |
| (3) | If any Board member fails to disclose any interest as required by subsection (2) or, subject to the provisions of that subsection, if he or she is present at the venue where a meeting of the Board is held or in any manner whatsoever participates in the proceedings of the Board, the relevant proceedings of the Board will be null and void. |
