Intellectual Property Rights from Publicly Financed Research and
R 385
Sectional Titles Schemes Management Act, 2011 (Act No. 8 of 2011)RegulationsSectional Titles Schemes Management Regulations, 2016AnnexuresAnnexure 1 : Management rulesPart 2 : Trustees6. Requirements for office and disqualification |
| (1) | A trustee need not be a member or the legally recognised representative of a member who is a juristic person. |
| (2) | A person who is the managing agent or an employee of the managing agent or the body corporate may not be a trustee unless that person is a member. |
| (3) | A trustee who has any direct or indirect personal interest in any matter to be considered by the trustees must not be present at or play any part in the consideration or decision of the matter concerned. |
| (4) | A trustee ceases to hold office if that trustee— |
| (a) | by written notice to the body corporate, resigns from office; |
| (b) | is declared by a court to be of unsound mind; |
| (c) | is or becomes insolvent and the insolvency results in the sequestration of that trustee's estate; |
| (d) | is convicted, or has been convicted in the Republic or elsewhere, of theft, fraud, forgery, perjury or any other offence involving dishonesty; |
| (e) | is sentenced to imprisonment without the option of a fine; |
| (f) | is removed from an office of trust on account of misconduct in respect of fraud or the misappropriation of money; |
| (g) | is removed from office by ordinary resolution of a general meeting; provided the intention to vote on the proposed removal was specified in the notice convening the meeting; |
| (h) | is or becomes disqualified to hold office as a director of a company in terms of the Companies Act, 2008 (Act No. 71 of 2008); or |
| (i) | fails or refuses to pay the body corporate any amount due by that trustee after a court or adjudicator has given a judgment or order for payment of that amount. |
