Diamonds Act, 1986 (Act No. 56 of 1986)Chapter II : The South African Diamond RegulatorPart 2 : State Diamond Trader17. Board of State Diamond Trader |
| 1) | The Board shall ensure that the functions of the State Diamond Trader are performed and that in so doing the objects of the State Diamond Trader are achieved. |
| 2) | The Board shall consist of not more than 15 members appointed by the Minister. |
| 3) | The Board consists of the following members: |
| a) | A chairperson; |
| b) | three persons from the industry, representing producers, diamond beneficiators and jewellery manufacturers; |
| c) | one officer of the Department of Minerals and Energy; |
| d) | one member of the South African Police Service nominated by the Minister of Safety and Security; |
| e) | one officer of the National Treasury nominated by the Minister of Finance; |
| f) | at least three persons representing investors or lenders of capital contemplated in section 17F(1)(a); |
| g) | three persons nominated by an association or associations which represent employees of diamond beneficiators; and |
| h) | the chief executive officers of the State Diamond Trader and the Regulator, by virtue of holding those offices. |
| 4) |
| a) | Before the Minister appoints the members of the Board contemplated in subsection (3)(b) and (f), the Minister shall appoint an independent selection panel, consisting of five persons with knowledge and understanding of issues concerning the diamond industry. |
| b) | The panel must compile a shortlist of not more than 20 candidates after following a transparent and competitive nomination process. |