Armaments Corporation of South Africa, Limited Act, 2003 (Act No. 51 of 2003)Chapter 2 : Board of Directors and Employees of Corporation12. Committees |
| (1) | The Board must establish an audit committee contemplated in section 77 of the Public Finance Management Act. |
| (2) | The Board may establish such other committees to assist it in the performance of its functions as may be necessary. |
| (3) | Any person appointed to a committee contemplated in this section who is not in the full-time employment of the State, must be paid out of the funds of the Corporation such remuneration and allowances as the Minister may determine, on the recommendation of the Board and after consultation with the Minister of Finance. |