Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 14 : OmbudsPart 1 : Ombud Council186. Decisions of Board |
(1)
| (a) | A proposal before a meeting of the Board becomes a decision of the Board if a majority of the members who are present or regarded as being present, and who may vote, vote for the proposal. |
| (b) | In the event of an equality of votes on a proposal, the person chairing the meeting has a casting vote in addition to a deliberative vote. |
| (2) | The Board may, in accordance with procedures determined by the Board, make a decision on a proposal outside a meeting of the Board. |
| (3) | A decision of the Board is not invalid merely because— |
| (a) | there was a vacancy in the office of a member when the decision was taken; or |
| (b) | a person who was not a member participated in the decision, but did not vote. |
[Section 186 to take effect on 1 April 2020, per Notice No. 1130 of 2019, GG 42677, dated 30 August 2019]