Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 15 : Financial Services TribunalPart 2 : Financial Services Tribunal226. Disclosure of interests |
(1)
| (a) | If before or during proceedings in which a panel member is participating, it becomes apparent that the panel member or a person who is a related party to the panel member has an interest in the decision that the panel has been constituted to reconsider, the panel member must— |
| (i) | immediately and fully disclose this interest to the other members of the panel; and |
| (ii) | withdraw from any further involvement in the hearing. |
| (b) | A disclosure in terms of paragraph (a) by the Chairperson must, in addition, be made to the Minister. |
| (c) | A disclosure in terms of paragraph (a) by another panel member must, in addition, be made to the Chairperson. |
| (2) | For the purposes of this section, it does not matter— |
| (a) | whether an interest is direct, indirect, pecuniary or non-pecuniary; or |
| (b) | when the interest was acquired. |
| (3) | In this section, "interest" does not include an interest that is not material. |
| (4) | The Chairperson must maintain a register of all disclosures made in terms of this section, and must maintain a system for the annual disclosure of interests by members of the Tribunal. |