| (1) | The Board consists of the following persons: |
| (b | two persons, designated by the Council, who, by virtue of their qualifications, expertise and experience in the field of finance, and whose names are submitted by the Independent Regulatory Board of Auditors or its successor; and |
| (c) | two fit and proper persons designated by the Minister. |
| (2) | The need for the Board to reflect— |
| (a) | the racial and gender composition of South Africa; |
| (b) | representation of persons with disabilities; and |
| (c) | provincial representation, |
must, as far as is practicable, be considered when the Board is constituted as contemplated in subsection (1).
| (3) | The members of the board of control of the Attorneys Fidelity Fund who hold office as members of that board at the date of commencement of Chapter 2, shall remain in office in that capacity as members of the Board for a period of six months after that date or until the members referred to in subsection (1) have been elected, whichever occurs later. |
[Section 62(3) inserted by section 5 of Act No. 16 of 2017]
