Development Bank of Southern Africa Act, 1997 (Act No. 13 of 1997)12. Chief executive officer |
| (1) | The appointment of the chief executive officer shall be made by the shareholders, unless the authority to appoint the chief executive officer has been delegated to the board. |
| (2) | If for any reason the chief executive officer is unable to act as chief executive officer for a period longer than two months, the board may appoint an acting chief executive officer to act during such inability, and the person so appointed shall, while so acting, have all the powers and shall carry out all the duties of the chief executive officer. |
| (3) | If the chief executive officer has resigned, died or has been permanently disabled and is unable to act as such, the board shall appoint an acting chief executive officer to act as chief executive officer until the successor assumes office, and the person who has been so appointed shall, while so acting, have all the powers and shall carry out all the duties of the chief executive officer. |