Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 14 : OmbudsPart 1 : Ombud Council183. Removal of Board members |
| (1) | The Minister must, subject to due process, remove a member of the Board from office if the member becomes a disqualified person. |
| (2) | The Minister may remove a member of the Board from office if an independent inquiry established by the Minister has found that the member— |
| (a) | is unable to perform the duties of office for health or other reasons; |
| (b) | has failed in a material way to discharge any of the responsibilities of office; or |
| (c) | has acted in a way that is inconsistent with continuing to hold the office. |
| (3) | Without limiting subsection (2)(b), a member of the Board must be taken to have failed in a material way to discharge the responsibilities of office if he or she is absent from two consecutive meetings of the Board without the leave of the Board. |
| (4) | If an independent inquiry has been established in terms of subsection (2), the Minister may suspend the member of the Board from office pending a decision on that person’s removal from office. |
| (5) | If a member of the Board is removed from office in terms of subsection (2), the Minister must submit the report and findings of the independent inquiry to the National Assembly. |
[Section 183 to take effect on 1 April 2020, per Notice No. 1130 of 2019, GG 42677, dated 30 August 2019]