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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 8 : Regulatory Agencies and Administration of Act

Part A : Companies and Intellectual Property Commission

189. Appointment of Commissioner

 

(1) The Minister must appoint a suitably qualified and experienced person to be—
(a) the Commissioner of the Commission, who—
(i) holds office for an agreed term not exceeding five years; and
(ii) is responsible for all matters pertaining to the functions of the Commission; and
(b) the Deputy Commissioner of the Commission, who—
(i) holds office for an agreed term not exceeding five years; and
(ii) may perform any function of the Commissioner when the office of the Commissioner is vacant, or when the Commissioner is absent or is for any reason unable to perform the functions of that office.

 

(2) A person may be reappointed as Commissioner or Deputy Commissioner on the expiry of an agreed term of office.

 

(3) The Commissioner is the accounting authority of the Commission, and as such, is responsible for—
(a) the proper control and management of the Commission;
(b) the effectiveness and efficiency of the Commission;
(c) all income and expenditure of the Commission;
(d) all revenue collected by the Commission;
(e) all assets, and the discharge of all liabilities, of the Commission; and
(f) the proper and diligent implementation of the Public Finance Management Act, 1999 (Act No. 1 of 1999), with respect to the Commission.

 

(4) The Commissioner may—
(a) assign management or other duties to employees of the Commission, who have appropriate skills to assist in the management, or control over any function of the Commission; and
(b) delegate, with or without conditions, any of the powers or functions of the Commissioner to the Deputy Commissioner or any other suitably qualified employee of the Commission, but any such delegation does not divest the Commissioner of responsibility for the exercise or any power or performance of any duty.