| (1) | The Minister may not appoint a person as a member of the distribution agency if such a person— |
| (b) | is or becomes an unrehabilitated insolvent or commits an act of insolvency; |
| (c) | is disqualified to act as a director of a company incorporated in terms of the Companies Act, 2008 (Act No. 71 of 2008); |
| (d) | has been found in any civil or criminal proceedings by a court of law, whether in the Republic or elsewhere, to have acted fraudulently, dishonestly, unprofessionally, dishonourably or in breach of a fiduciary duty, or of any other offence for which such person has been sentenced to direct imprisonment without the option of a fine in the past five years; |
| (e) | has been removed from a position of trust in the past five years on account of misconduct; |
| (f) | has been subjected to a disciplinary hearing resulting in his or her membership of a board or any other accounting authority of a public entity, been prematurely terminated in the past five years; |
| (g) | has been at any time found to be in contravention of this Act or any other Act applicable to the public service in the past five years; or |
| (h) | has been declared to be of unsound mind by a court of law. |
| (2) | Nothing in this Act prevents the Minister from subjecting a prospective member or a member of the distributing agency to a probity test to determine suitability or continued suitability of a candidate for appointment as a member of the board or continued membership of the board, as the case may be. |
[Section 26C inserted by section 24 of Act No. 32 of 2013]
