Board Committees
BOARD COMMITTEES
This committee oversees the functions of the SADPMR as described in the following pieces of legislation, regulations, and guidelines:
The Diamonds Act No 56 (Act 56 of 1986), as amended
Precious Metals Act No 37 (Act 37 of 2005)
Diamond Export Levy Act No 15 (Act 15 of 2007)
Diamond Export Levy Administration Act No 14 (Act14 2007)
Kimberley Process Certification Scheme
Mining Charter 2018
SADPMR Beneficiation Strategy
This committee monitors the effectiveness and applicability of all HR policies, codes of practice, employment reports, employee wellness, and occupational health and safety matters. It reviews the development of codes of practice in relation to remuneration and advises the board on issues arising from them. The committee further advises the board on all labour relations and litigation that may impact the entity as well as the shareholders. It monitors the selection and recruitment of executive managers as well as the CEO’s position, as described in the SADPMR Recruitment and Selection Policy. It monitors and oversees the SADPMR’s marketing strategy to ensure healthy relationships with internal and external stakeholders, including public relations and communication. It advises the Board on ethics-related matters and recommends appropriate interventions for implementation by the management of the regulator.
The main purpose of the Finance, Audit, and Risk Committee is to support the functions of the SADPMR as described by the Public Finance Management Act (PFMA). The committee aims to ensure the following:
Alignment between the activities of the SADPMR and provisions contained in the PFMA. The committee has oversight over SADPMR financial affairs, which includes operational planning and capital budgeting. Assisting management with their responsibility of creating and maintaining an effective control environment within the regulator, including financial control, accounting systems, and reporting, as well as identifying material risks and giving them the required attention.
The Audit Committee Charter is drawn in terms of paragraph 3.1.8 of the Treasury Regulations, read with Section 77 of the PFMA, to assist the board in relation to finance and associated matters.
