In the main the members of the Panel are the persons appointed to represent the bodies listed in section 440B(3) of the Act. These bodies are the principal constituents of the securities industry.
They are-
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The Johannesburg Stock Exchange |
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The South African Chamber of Business (formerly The South African Federated Chamber of Industries and The Association of Chambers of Commerce and Industry of South Africa) |
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The Afrikaanse Handelsinstituut |
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The Clearing Bankers Association of South Africa |
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The Association of General Banks |
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The Merchant Bankers' Association |
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The Shareholders' Association of South Africa |
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The Pensions Institute (of Southern Africa) |
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The Chamber of Mines of South Africa |
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The Life Offices' Association of South Africa |
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The South African Institute of Chartered Accountants |
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The Association of Law Societies of the Republic of South Africa |
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Additional members of the Panel are its Chairman, the Registrar of Companies and the Chairman of the Competition Board. In terms of section 440B(6) of the Act the Panel is entitled from time to time to co-opt not more than 4 persons as additional members. |
The Panel works on a day-to-day basis through its Executive Director (or his deputy) appointed by the Panel, he having full powers and being responsible for the general administration of the Code, and where appropriate through its Executive Committee appointed under section 440B(12) of the Act. The executive functions include, either on the Panel's own initiative, or at the instance of any party, the conduct of investigations, (including investigations into suspected insider trading), and the monitoring of relevant dealings in connection with the Code. The Executive Director is available both for consultation and to give rulings.
Special Investigating Units and Special Tribunals Act, 1996
