COMPANIES BILL - Department of Trade and Industry

151Part BCompanies OmbudEstablishment of Companies Ombud193. (1) There is hereby established a juristic person to be known as the CompaniesOmbud, which—(a) has jurisdiction throughout the Republic;(b) is independent, and subject only to the Constitution and the law;(c) must exercise its functions in accordance with this Act; and(d) must perform its functions impartially and without fear, favour, or prejudice,and in as transparent a manner as is appropriate having regard to the nature ofthe specific function.(2) Each organ of state must assist the Companies Ombud to maintain itsindependence and impartiality, and to perform its functions effectively.(3) In carrying out its functions, the Companies Ombud may—(a) have regard to international developments in the field of company law; or(b) consult any person, organisation or institution with regard to any matter.(4) The Companies Ombud consists of a chairperson and not less than 10 otherwomen or men appointed by the Minister, on a full or part-time basis.51015Appointment of Companies Ombud194. (1) The Minister must—(a) appoint the chairperson and other members of the Companies Ombud no laterthan the date on which this Act comes into operation; and(b) appoint a person to fill any vacancy on the Ombud.(2) A person may not be—(a) appointed as chairperson or member of the Ombud unless the person satisfiesthe requirements of section 205; or(b) reappointed to a second term as chairperson of the Ombud.(3) The Ombud must comprise—(a) persons with suitable qualifications and experience in economics, law,commerce, industry or public affairs; and(b) sufficient persons with legal training to satisfy the requirements of subsection3(a).(4) The Minister must designate a member of the Ombud as deputy chairperson of theOmbud.(5) The deputy chairperson performs the functions of chairperson whenever—(a) the office of chairperson is vacant; or(b) the chairperson is for any other reason temporarily unable to perform thosefunctions.(6) Sections 206 and 207 apply to the chairperson and other members of the Ombud.Functions of Companies Ombud2025303540195. (1) The Companies Ombud, or a member of the Ombud acting alone inaccordance with this Act, may—(a) adjudicate in relation to any application that may be made to it in terms of thisAct, and make any order provided for in this Act in respect of such anapplication;45(b) assist in the resolution of disputes as contemplated in Part C of Chapter 7; and(c) perform any other function assigned to it by or in terms of this Act, or any lawmentioned in Schedule 6.(2) The chairperson is responsible to manage the caseload of the Companies Ombud,and must assign each matter referred to the Ombud to—50(a) a member of the Ombud, to the extent that this Act provides for a matter to beconsidered by a single member of the Ombud; or(b) a panel composed of any three members of the Ombud, in any other case.