National Empowerment Fund Act, 1998 (Act No. 105 of 1998)12. Vacancies on Board |
(1) There will be a vacancy on the Board if a trustee—
(a) becomes subject to a disqualification referred to in section 7;
(b) tenders his or her resignation as contemplated in section 9(3);
(c) is removed from office in terms of section 11; or
(d) dies or becomes incapacitated.
| (2) | A vacancy on the Board must be filled by the appointment of another trustee by the President or the Minister, as the case may be, in terms of section 8 as soon as may be reasonably practicable after the occurrence of such vacancy, and any trustee so appointed must hold office for the unexpired period of his or her predecessor’s term of office. |