Intellectual Property Rights from Publicly Financed Research and
R 385
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 4 : Financial Sector Conduct AuthorityPart 2 : Governance61. Commissioner and Deputy Commissioners |
| (1) | The Minister must appoint a person who is fit and proper and has appropriate expertise in the financial sector as the Commissioner of the Financial Sector Conduct Authority. |
| (2) | The Minister must appoint at least two, but no more than four, persons who have appropriate expertise in the financial sector as Deputy Commissioners. |
| (3) | The Commissioner and Deputy Commissioners serve in a full-time executive capacity. |
| (4) | A process for the selection of persons for appointment as Commissioner or Deputy Commissioner must be prescribed by Regulation. |
(5)
| (a) | The Commissioner may designate a Deputy Commissioner to act as Commissioner when the Commissioner is absent from office. |
| (b) | If the Commissioner is unable to designate an acting Commissioner in terms of paragraph (a), or if the office of Commissioner is vacant, the Minister may designate a Deputy Commissioner to act as Commissioner during the Commissioner’s absence or pending the appointment of a Commissioner. |
| (6) | A person may not be appointed or hold office as Commissioner or Deputy Commissioner if the person— |
| (a) | is a disqualified person; or |
| (b) | is not ordinarily resident in the Republic. |
| (7) | When appointing the Commissioner or Deputy Commissioner, the Minister and the person appointed must agree, in writing, on— |
| (a) | the performance measures that must be used to assess the person’s performance; and |
| (b) | the level of performance to be achieved against those performance measures. |
