Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter IX : Co-operative Banks Development AgencyPart 2 : Governance of Agency67. Establishment of committees |
| (1) | The Agency may establish committees to assist it in the performance of its functions and it may at any time dissolve or reconstitute any such committee. |
| (2) |
| (a) | A committee consists of as many members as the Agency considers necessary. |
| (b) | The Agency, taking into account, amongst other factors, the need for transparency and representivity within the broader demographics of the South African population, may appoint any person as a member of a committee, on such terms and conditions as the Agency may determine. |
| (c) | The Agency may terminate the membership of a member of a committee if— |
| (i) | the exercise and performance by the member of the powers and functions of that committee is unsatisfactory; |
| (ii) | the member, either through illness or for any other reason, is unable to perform the functions of the committee effectively; or |
| (iii) | the member has failed to comply with or breached any legislation regulating the conduct of members, including any applicable code of conduct. |
| (d) | If the Agency does not designate a chairperson for a committee the committee may elect a chairperson from among its members. |
| (3) | The Agency must provide funding to its committees in such a way that the committees are able to perform their functions effectively. |
| (4) | Sections 62 and 63 relating to meetings and decisions of the Agency, respectively, apply with the necessary changes in respect of any committee. |