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

Chapter 8 : Regulatory Agencies and Administration of Act

Part E : Administrative provisions applicable to agencies

205. Qualifications for membership

 

(1) To be eligible for appointment, designation or co-option as a member of the Companies Tribunal, the Panel, or the Council, and to continue to hold that office, a person must, in addition to satisfying any other specific requirements set out in this Act—
(a) not be subject to any disqualification set out in subsection (2); and
(b) have submitted to the Minister a written declaration stating that the person is not disqualified in terms of subsection (2).

 

(2) A person may not become, or continue to be, a member of the Companies Tribunal, the Panel, or the Council, if that person—
(a) is an office-bearer of any party, movement, organisation or body of a partisan political nature;
(b) personally or through a related person has or acquires a personal financial interest that may conflict or interfere with the proper performance of the duties of a member of the Tribunal, Panel, or Council;
(c) is disqualified in terms of section 69 from serving as a director of a company; or
(d) is subject to an order of a competent court holding that person to be mentally unfit or disordered.