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Financial Services Board Act, 1990 (Act No. 97 of 1990)

12. General powers of board

 

(1) For the purposes of any investigation by the board in connection with the performance of its functions the Commissions Act, 1947 (Act No. 8 of 1947), shall apply to the board and witnesses and their evidence as if the board were a commission to which the said Act applied and the executive officer were the secretary of the board.

 

(2) The board may call to its assistance such person or persons as it may deem necessary to assist in the performance of its functions.

 

(3) The board may—
(a) hire, purchase or otherwise acquire such movable or immovable property as the board may deem necessary for the performance of its functions and may let, sell or otherwise dispose of property so purchased or acquired.
(b) in order to perform its functions, enter into an agreement with any person, including the State, a university, a research institution or any other government institution, for the performance of any specific act or function or the rendering of specific services;
(c) insure itself against any loss, damage, risk or liability which it may suffer or incur;
(d) borrow money subject to the Public Finance Management Act;

[Section 12(3)(d) amended by section 57 of Act No. 45 of 2013]

(e) appoint officers and employees to assist it in the performance of its functions; and
(f) in general do anything which is necessary or expedient to perform its functions.