Financial Services Board Act, 1990
R 385
Scientific Research Council Act, 1988 (Act No. 46 of 1988)7A. Dissolution of Board |
| (a) | the Board is unable to perform its duties in terms of the Act or on the grounds of mismanagement; |
| (b) | there is a total breakdown in the relationship between the Board and the Minister; or |
| (c) | there is a breakdown in the relationship amongst the members of the Board, which renders the continued effective functioning of the Board impossible. |
| (2) | In exercising his or her powers in terms of this section, the Minister must comply with the Promotion of Administrative Justice Act, 2000 (Act No. 3 of 2000). |
| (3) | Within 21 days of the dissolution of the Board, the Minister must appoint an interim Board consisting of a minimum of three persons to assume the responsibilities of the Board, until a new Board is constituted in accordance with the procedure referred to in section 7. |
| (4) | A new Board must be constituted within 180 days of the dissolution of the previous Board. |
| (5) | Any person who was a member of the Board that was dissolved in terms of this section may be reappointed to a new Board. |
| (6) | The Minister must, within 30 days of the dissolution of the Board, submit a report to the National Assembly, setting out the reasons for the dissolution of the Board. |
[Section 7A inserted by section 2 of Act No. 7 of 2014]
