(1) |
The Board may, in writing, establish one or more committees, including— |
(a) |
the Executive Management Committee; |
(b) |
the Human Resource and Reimbursement Committee; and |
(c) |
the Audit and Risk Committee, in accordance with National Treasury guidelines regarding the formation of Audit Committees as provided for in section 77 of the Public Finance Management Act, |
to assist in the performance of the Board’s functions which may be delegated to the committee by the Board.
(2) |
A committee established in terms of subsection (1)— |
(a) |
consists of the number of members of the Board or other persons as the Board considers necessary; |
(b) |
must perform its duties and exercise its powers subject to this Act and such directives as may be issued by the Board; and |
(c) |
must designate one of the members of a committee as chairperson and, if it considers it necessary to do so, may designate another member of a committee as deputy chairperson. |
(3) |
Subject to section 6, the Board may invite persons who are not members of the Board to serve on any of its committees— |
(a) |
for a specific purpose and for the period determined by the committee for the purposes of advising the Board; or |
(b) |
may make recommendations to the committee in respect of a matter for which the committee has been established. |
(4) |
The Board may remove a member of a committee or dissolve or reconstitute a committee as it considers necessary. |
(5) |
Subject to the directions of the Board, a committee— |
(a) |
may exercise such powers as entrusted by the Board to it; and |
(b) |
must perform such functions of the Board as the Board may delegate to it, and must follow such procedure during such exercising of powers and functions performance of functions as the Board may direct. |
(6) |
Upon completion of the functions delegated to it in terms of subsection (5), a committee must submit a written report thereon, including recommendations, if any, for consideration by the Board. |
(7) |
Any decision taken by a committee established under this section must be ratified by the Board. |
(8) |
The Board is not absolved from responsibility for the performance of any powers, functions or duties entrusted to any committee in terms of this section. |