Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 3 : Prudential AuthorityPart 2 : Governance43. Meetings of Prudential Committee |
(1)
| (a) | The Prudential Committee must meet as often as necessary for the performance of its functions. |
| (b) | An audio or audio-visual conference among a majority of the members of the Prudential Committee, which enables each participating member to hear and be heard by each of the other participating members, must be regarded as a meeting of the Prudential Committee, and each participating member must be regarded as being present at such a meeting. |
| (2) | Meetings of the Prudential Committee are held at times and, except where subsection (1)(b) applies, at places determined by the Governor. |
| (3) | A quorum for a meeting of the Prudential Committee is a majority of its members. |
(4)
| (a) | The Governor chairs meetings of the Prudential Committee at which the Governor is present. |
| (b) | If the Governor is not present at a meeting, a Deputy Governor other than the Chief Executive Officer, who is nominated by the Governor, or selected in accordance with a procedure determined by the Governor, chairs the meeting. |
| (5) | The Governor or the Deputy Governor chairing a meeting of the Prudential Committee may invite or allow any other person, including a representative of the Financial Sector Conduct Authority or the National Credit Regulator, to attend a meeting of the Prudential Committee, but a person who is invited has no right to vote at the meeting. |
| (6) | The members may regulate proceedings at Prudential Committee meetings as they consider appropriate. |
| (7) | The Chief Executive Officer must ensure that minutes of each meeting of the Prudential Committee are kept in a manner determined by the Chief Executive Officer. |