The South African Reserve Bank Act 90 of 1989 (SARB Act) provides for 15 Board directors, eight of which are appointed by the President, including the Governor and three Deputy Governors. The remaining seven directors are elected by shareholders.
As shareholders of the SARB, you are fully aware that the SARB Act prescribes that no shareholder or their associates are allowed to beneficially hold more than 10 000 shares. A fixed annual dividend of 10c per share is issued if profits are made, resulting in the potential total annual dividend payout to shareholders by the SARB being limited to R200 000.