Companies Act, 1973 (Act No. 61 of 1973)

Chapter XVB: Financial reporting standards

Purchase

1)	The Council must-

a)	determine the procedures to be followed at its meetings;

b)	meet at least three times a year on dates set by the chairperson.

2)	Each member of the Council shall have one vote and a decision of the majority of the members present at a meeting, where at least three quarters of the members are present, constitutes a decision of the Council.

3)	The Council may establish and appointment members to subcommittees to assist in performing the functions of the Council.

4)	Meetings of the Council shall be open to the public.