South African Reserve Bank Act, 1989 (Act No. 90 of 1989)RegulationsSouth African Reserve Bank Regulations, 2010Chapter IV : Directors15. Disclosure of interest |
| 15.1 | Any director, relative of a director, or company, organisation or partnership in which the director has a material interest, wishing to contract with the Bank, must prior to entering into the contract, lodge for disclosure to the Board, as applicable— |
| (a) | particulars of the proposed agreement; |
| (b) | the director's interest in the agreement; |
| (c) | the director's interest in or association with the contracting party. |
| 15.2 | A director having an interest or association described in Regulation 15.1(b) or (c), must disclose that to the Board and may not vote when the Board decides on the matter. |
| 15.3 | Failure to make the disclosure required by Regulation 15.1 shall render the contract voidable at the instance of the Bank. |