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Land and Agricultural Development Bank Act, 2002 (Act No. 15 of 2002)

Part II : Management of Bank

8. Composition of Board

 

 

(1) The Board consists of no fewer than seven and no more than 12 persons, including those contemplated in subsections (3) and (4).

 

(2) The majority of the members of the Board must serve in a non-executive capacity.

 

(3) The Chief Executive Officer is a member of the Board by virtue of his or her office and serves as an executive director.

 

(4) The Minister may appoint any other employee of the Bank to serve as an executive director for as long as he or she remains an employee of the Bank.

 

(5) The Minister must designate one of the Board members as chairperson of the Board and another as deputy chairperson to act as chairperson when the chairperson is unable to do so.

 

(6) Board members viewed collectively must—
(a) represent a broad cross-section of the population of the Republic;
(b) be suited to serve on the Board by virtue of suitable qualifications, expertise and experience; and
(c) be committed to the objectives of this Act.