Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 3 : Prudential AuthorityPart 2 : Governance44. Decisions of Prudential Committee |
(1)
| (a) | A proposal before a meeting of the Prudential Committee becomes a decision of the committee if a majority of the members present, or regarded as being present, and voting on the proposal, 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 Prudential Committee may, in accordance with procedures determined by it, make a decision on a proposal outside a meeting of the Prudential Committee. |
| (3) | A decision of the Prudential Committee 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, as long as such person did not vote. |