South African Postbank Limited Act, 2010 (Act No. 9 of 2010)

Chapter IV : Control and Management of Company

Purchase

(1)	The Board must, with the approval of the Minister, appoint a managing director who must perform any work incidental to the functions of the Company and ensure that the Company meets its objects.

(2)	The Board must invite applications for the posts of managing director by publishing advertisements in the media.

(3)	A person appointed as managing director—

(a)	must have the qualifications or experience relevant to the functions of the Company;

(b)	must not be disqualified as contemplated in section 13; and

(c)	is a member of the Board by virtue of the office.