Statistics Act, 1999
R 385
South African Postbank Limited Act, 2010 (Act No. 9 of 2010)Chapter IV : Control and Management of Company13. Disclosure and disqualification from membership of Board |
| (1) | No person may be appointed as a Board member or remain a member of the Board if he or she— |
| (a) | is a member of Parliament, any provincial legislature or any municipal council; |
| (b) | is an unrehabilitated insolvent; |
| (c) | has been declared by a court to be mentally ill or disordered; |
| (d) | has at any time been convicted, whether in the Republic or elsewhere, of— |
| (i) | theft, fraud, forgery or uttering a forged document, perjury, an offence in terms of the Prevention and Combating of Corrupt Activities Act, 2004 (Act No. 12 of 2004), or any other offence involving dishonesty; or |
| (ii) | an offence under this Act; |
| (e) | has been sentenced, after the commencement of the Constitution of the Republic of South Africa, 1993 (Act No, 200 of 1993), to a period of imprisonment of not less than one year without the option of a fine; |
| (f) | has at any time been removed from an office of trust on account of misconduct; or |
| (g) | has any direct or indirect interest in conflict with the business of the Company. |
| (2) | A person who is subject to a disqualification contemplated in subsection (1)(a), (I)(b) or (1)(g) may be nominated for appointment as a Board member, but may only be appointed if at the time of such appointment he or she is no longer subject to that disqualification. |
(3)
| (a) | A person nominated for appointment as a member of the Board must, before appointment and upon a request from the Minister, submit to the Minister a written statement containing— |
| (i) | a full disclosure of all his or her financial interests; and |
| (ii) | a declaration that he or she has no direct or indirect interests that are in conflict with the business of the Company as contemplated in subsection (1)(g). |
| (b) | If, after appointment, a member of the Board acquires any— |
| (i) | further financial interest contemplated in paragraph (a)(i), the member must immediately in writing declare that fact to the Minister and the Board; or |
| (ii) | direct or indirect interest contemplated in subsection (1)(g), the member must immediately declare that fact to the Minister and the Board. |
