Financial Markets Control Act, 1989 (Act No. 55 of 1989)13. Delegation of Functions of Executive Committee |
The executive committee may —
| (a) | subject to such conditions as it may determine, delegate or assign any power or duty conferred upon or assigned to it by or under this Act, to a subcommittee or such person as it deems fit, but shall not thereby be divested or relieved of a power or duty so delegated or assigned; or |
| (b) | delegate to a disciplinary tribunal to be established in terms of the rules the power to hear and adjudicate any complaint or charge against a member or an officer or employee of a member and, where such tribunal deems it appropriate, to impose any penalty. |
[Section 13 substituted by section 9 of Act 55 of 1995]