Statistics Act, 1999
R 385
Land and Agricultural Development Bank Act, 2002 (Act No. 15 of 2002)Part II : Management of Bank15. Committees of Board |
| (1) | The Board may subject to subsection (2)— |
| (a) | appoint committees consisting of as many Board members, Bank employees and advisers to the Bank as may be necessary to perform such functions as the Board may direct; and |
| (b) | at any time dissolve or reconstitute a committee appointed in terms of paragraph (a). |
| (2) | The chairperson of a committee must be a member of the Board. |
| (3) | A recommendation of a committee— |
| (a) | must be tabled at the following meeting of the Board; |
| (b) | may be referred back to that committee; |
| (c) | is a decision of the Board only if the Board has approved that recommendation. |
| (4) | The Board is not divested of any function conferred upon or delegated to a committee in terms of this section. |
| (5) | The Board must appoint an audit committee, of which— |
| (a) | the chairperson is a Board member; and |
| (b) | the members who are not in the employ of the Bank. |
| (6) | The Board must ensure that every committee is provided with written authority from the Board setting out the parameters and context within which a function is to be performed by that committee. |
| (7) | The Board is accountable for any function performed by a committee in terms of this section. |
