Diamonds Act, 1986 (Act No. 56 of 1986)Chapter II : The South African Diamond RegulatorPart 1 : South African Diamond and Precious Metals Regulator6. Board of Regulator |
| 1) | The Board shall ensure that the functions of the Regulator are performed and that in so doing the objects of the Regulator are achieved. |
| 2) | The Board shall consist of not less than 14 and not more than 17 members appointed by the Minister. |
| 3) | The Board consists of the following members: |
| a) | A chairperson; |
| b) | two persons from the diamond industry; |
| c) | two persons from the precious metals industries; |
| d) | two persons from organised labour; |
| e) | one officer of the Department of Minerals and Energy; |
| f) | one member of the South African Police Service nominated by the Minister of Safety and Security; |
| g) | one officer of the National Treasury nominated by the Minister of Finance; |
| h) | one officer of the South African Reserve Bank nominated by the Governor of the South African Reserve Bank; |
| i) | at least three other persons with appropriate experience, expertise or skills to enhance the Board’s capability of performing its functions more effectively and; |
| j) | the chief executive officer of the Regulator, appointed in terms of section 13, by virtue of holding that office. |
| 4) |
| a) | Before the Minister appoints the members of the Board contemplated in subsection (3)(a), (b), (c), (d) and (i), the Minister shall appoint an independent selection panel consisting of five persons with knowledge and understanding of the diamond industry and the precious metals industries. |
| b) | The panel shall compile and submit to the Minister a shortlist of not more than 20 candidates after having followed a transparent and competitive nomination process. |