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Securities Services Act, 2004 (Act No. 36 of 2004)

Chapter IX : General Provisions

Enforcement committee

98. Composition of enforcement committee

 

(1) The board must, on the date that this Act comes into operation, appoint as members of the enforcement committee so many persons as the board may consider necessary: Provided that a minimum of two members are persons qualified in law.

 

(2) The enforcement committee may, as the need arises and on an ad hoc basis, co-opt one or more persons with appropriate knowledge and experience as additional members of the enforcement committee.

 

(3) No member of the enforcement committee who was involved in the investigation of a matter or who has an interest in that matter may participate in a decision on that matter by the enforcement committee.

 

(4) The board must designate from the members of the enforcement committee a chairperson and a deputy chairperson who performs the functions of the chairperson when the office of chairperson is vacant or when the chairperson is unable to perform his or her functions.

 

(5) The board may at any time reconstitute the enforcement committee but a reconstitution may not affect the membership of a panel referred to in section 100 during the course of proceedings before such panel.