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

13. Staff of board

 

(1) The board shall in the performance of its functions be assisted by –
(a) an executive officer, one or more deputy executive officers and a chief actuary appointed by the Minister after consultation with the board and who in that order of rank shall be the most senior officers of the board;

[Section 13(1)(a) substituted by section 3 of Act No. 41 of 1992]

(b) persons appointed by the board; and
(c) officers and employees placed at the disposal of the board under section 15(3)(a) of the Public Service Act, 1994 (Proclamation No. 103 of 1994).

[Section 13(1)(c) substituted by section 9 of Act No. 12 of 2000]

 

(2) The chief actuary shall—
(a) be a full member of the Actuarial Society of South Africa;
(b) be a South African citizen; and
(c) have had at least two years’ appropriate practical actuarial experience after passing the entrance examination recognized or conducted by the Actuarial Society of South Africa.

 

(3)
(a) The executive officer shall, subject to supervision by the board, perform the functions entrusted to the executive officer by or in terms of this or any other Act.
(b) A deputy executive officer or the chief actuary must perform the functions delegated to the deputy executive officer or chief actuary under this Act and is accountable to the executive officer for the performance of those functions.

[Section 13(3) amended by section 58 of Act No. 45 of 2013]

 

(4) Any person in the employment of the board may with his consent and on the conditions determined by the board be seconded, either for a specific service or for a period determined by the board, to the service of the State or the service of any other state or any council, institution or body established by or under any law or to any other body or person: Provided that if any such person is so seconded, the terms and conditions on which he is employed by the board shall not be affected detrimentally by the secondment.