The Economic Regulation of Transport Act, 2024 (Act No. 6 of 2024)Chapter 4 : Establishment of InstitutionsPart A : Transport Economic Regulator32. Conduct and conflicts of Board members |
| (1) | A non-executive member of the Board must promptly inform the Minister in writing if the member, or a person who is related or inter-related to the member, acquires an interest that is, or is likely to become, an interest contemplated in section 31(2)(b). |
| (2) | A non-executive member of the Board must not— |
| (a) | engage in any activity that may undermine the integrity of the Regulator; |
| (b) | attend, participate in or influence the proceedings during a meeting of the Board, if, in relation to the matter before the Board, that member, or a related or inter-related person, has an interest that precludes that member from performing the functions of a member of the Board in a fair, unbiased and proper manner; |
| (c) | vote at any meeting of the Board in connection with a matter contemplated in paragraph (b); |
| (d) | make private use of or profit from any confidential information obtained as a result of performing that person’s functions as a member of the Board; or |
| (e) | divulge any information referred to in paragraph (d) to any third party, except as required as part of that person’s official functions as a member of the Board. |
| (3) | If, at any time, it appears to a member of the Board that a matter being considered by the Board at a meeting concerns an interest of that member, or of a related or inter-related person, referred to in section 31(2)(b), that member must— |
| (a) | immediately and fully disclose the nature of that interest to the meeting; and |
| (b) | withdraw from the meeting to allow the remaining members to discuss the matter and determine whether the member should be prohibited from participating in any further proceedings concerning that matter. |
| (4) | The disclosure by a member of the Board in terms of subsection (3)(a), and the decision by the Board in terms of subsection (3)(b), must be expressly recorded in the minutes of the meeting in question. |