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Financial Markets Control Act, 1989 (Act No. 55 of 1989)

3. Financial Markets Advisory Board

 

 

(1)

(a) The Minister may appoint a Financial Markets Advisory Board (in this section referred to as the advisory board), consisting of a chairman and such other members as the Minister may from time to time determine.
(b) A member of the advisory board shall hold office for such period as the Minister may determine and shall be eligible for reappointment upon the expiration of his period of office.

 

(2) The advisory board may from time to time conduct any investigation, and advise the Registrar, or make recommendations to the Minister, regarding any matter relating to financial markets and stock exchanges, and shall advise the Minister on any such matter referred to the advisory board by the Minister.

 

(3) The advisory board shall in relation to witnesses and their evidence have the powers of a commission duly appointed under the Commissions Act, 1947 (Act No. 8 of 1947).

 

(4) The Registrar may submit to the advisory board any information which is in his possession, or which he may obtain, and which is relevant to any matter which the advisory board is investigating or considering.

 

(5)

(a) The advisory board may appoint one or more subcommittees for the purposes of considering, and advising on, such matters relating to financial markets and stock exchanges as may be referred to such a subcommittee by the advisory board.
(b) The advisory board shall appoint as members of a subcommittee one or more of its members and, if it deems it necessary, one or more other persons for such periods of office as the advisory board may from time to time determine.

 

(6) The advisory board may call to its assistance such person or persons as it may deem necessary to assist it, or to investigate matters relating to financial markets and stock exchanges.

 

(7) The Registrar shall be responsible for the administrative work incidental to the performance of the functions of the advisory board and any subcommittee.