The Economic Regulation of Transport Act, 2024 (Act No. 6 of 2024)Chapter 4 : Establishment of InstitutionsPart A : Transport Economic Regulator29. Establishment of Transport Economic Regulator |
| (1) | The Transport Economic Regulator is hereby established as an organ of state within the public administration, but as an institution outside the public service. |
| (2) | The Regulator— |
| (a) | is a juristic person, with jurisdiction throughout the Republic; |
| (b) | is independent and subject only to the Constitution and the law; |
| (c) | must be impartial and perform its functions without fear, favour or prejudice; and |
| (d) | must exercise the functions assigned to it in terms of any law in— |
| (i) | the most cost-efficient and effective manner; and |
| (ii) | accordance with the values and principles mentioned in section 195 of the Constitution. |
| (3) | On any matter concerning the governance of the Regulator referred to in section 30(9), or that this Act or any other legislation requires to be determined by the Board, a decision supported by a majority of all of the members of the Board is the decision of the Regulator. |
| (4) | On any matter not contemplated in subsection (3), a decision taken, in accordance with this Act and the Regulator’s functions, by a majority of the members of the Executive Regulatory Panel is the decision of the Regulator. |