Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter IX : Co-operative Banks Development AgencyPart 2 : Governance of Agency60. Disqualification from membership and vacation of office |
| (a) | is not a South African citizen; |
| (b) | is not resident in the Republic; |
| (c) | is an unrehabilitated insolvent; |
| (d) | within the previous 10 years has been, or is, convicted in the Republic or elsewhere of theft, fraud, forgery or uttering a forged document, perjury, an offence under the Prevention and Combating of Corrupt Activities Act, 2004 (Act No. 12 of 2004), an offence under the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001), or an offence involving dishonesty; |
| (e) | has been convicted of any other offence committed after the Constitution of the Republic of South Africa, 1993 (Act No. 200 of 1993), took effect, and sentenced to imprisonment without the option of a fine; or |
| (f) | has, as a result of improper conduct, been removed from an office of trust. |
| (2) | The membership of a member of the Agency ceases if he or she— |
| (a) | becomes disqualified in terms of subsection (1) from being appointed as a member of the Agency; |
| (b) | resigns by written notice addressed to the Agency; |
| (c) | is declared by the High Court to be of unsound mind or mentally disordered or is detained under the Mental Health Act, 1973 (Act No. 18 of 1973); |
| (d) | has, without the leave of the Agency, been absent from more than two consecutive meetings of the Agency; or |
| (e) | ceases to be permanently resident in the Republic. |
| (3) | If a member of the Agency becomes disqualified on a ground mentioned in subsection (1) or (2), such member ceases to be a member of the Agency from the date of becoming disqualified. |
| (4) |
| (a) | If a member of the Agency dies or vacates his or her office before the expiration of his or her term of office, the Minister must consider appointing a person to fill the vacancy for the unexpired portion of the period for which that member was appointed. |
| (b) | If the Minister appoints a person to fill the vacant seat, the appointment must be made within 60 days from the date on which the vacancy occurred. |