Co-Operative Banks Act, 2007 (Act No. 40 of 2007)

Chapter IX : Co-Operative Banks Development Agency

Part 2 : Governance of Agency

64. Duties of members

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The board of the Agency is the accounting authority of the Agency within the meaning of the Public Finance Management Act and must, in addition to the duties and responsibilities provided for in the Public Finance Management Act—

(a)provide effective, transparent, accountable and coherent corporate governance and conduct effective oversight of the affairs of the Agency;
(b)comply with all applicable legislation and agreements;
(c)communicate openly and promptly with the Ministerand any ministerial representatives;
(d)deal with the Minister and any ministerial representatives in good faith; and
(e)at all times act in accordance with the code of conduct for members of the Agency as may be prescribed by the Minister.