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South African National Water Resources Infrastructure Agency SOC Limited Act, 2024 (Act No. 34 of 2024)

Chapter 3 : Governance of Agency

16. Establishment of committees

 

(1) The Board must establish at least the following committees to support the effective functioning of the Board:
(a) Social and Ethics; and
(b) Audit and Risk.

 

(2) The Board must—
(a) assign members of the Board to serve on a committee, based on their knowledge and skills; and
(b) determine the—
(i) terms of reference of a committee;
(ii) composition of members of a committee;
(iii) tenure of members of a committee;
(iv) reporting mechanisms for a committee to the Board; and
(v) process for the removal of any member appointed to a committee.

 

(3) Non-executive members of the Board must be in the majority on any committee.

 

(4) The composition of members on no two committees may overlap completely.

 

(5) The Board may procure specialists or advisors for technical support to a committee.

 

(6) Unless specially delegated by the Board, a committee has no decision-making powers and may only make recommendations for consideration by the Board. If decision-making powers are delegated to a committee, decisions will be made with a 75% majority of the members delegated to each of the committees established by the Board in terms of subsection (1) and assigned in terms of subsection (2).

 

(7) A committee must meet as often as is necessary to perform its functions and in accordance with such procedure as the committee may decide.

 

(8) A non-executive member of the Board must be appointed as the chairperson of a committee.

 

(9) For committee members who are not Board members, including specialists and advisors, remuneration and allowances as set out in section 12(2) apply.