Act No. 26, 2008
TECHNOLOGY INNOVATION AGENCY ACT. 2008
(e)
(f)
p u r c h a s e , take on lease, hire out or alienate any m o v a b l e property;
take such security as it may d e e m fit, including special m o r t g a g e b o n d s over
in m o v a b l e property, notarial bonds over m o v a b l e property, p l e d g e s of
movable property, cessions of rights and in general any other form of c o v e r or
security: and
(g) generally deal with any matter necessary or incidental to the p e r f o r m a n c e of
its functions in terms of this Act.
(2) W h e r e the A g e n c y enters into a transaction with a person as c o n t e m p l a t e d in
subsection (1)(a)(ii) and (iii). the A g e n c y may. after consultation with the Minister, elect
to be represented in the Board of such person.
(3) W h e r e a right in or to any technological innovation has, in terms of subsection
( l ) ( a ) ( v i ) , been acquired by the A g e n c y or assigned by the A g e n c y to any person, the
A g e n c y or such person, as the case may be. must for the purposes of the Patents Act,
1978, be regarded as the assignee of the discoverer or inventor of such technological
innovation.
B o a r d of A g e n c y
5. (1) T h e r e is hereby established a Board, k n o w n as the Board of the A g e n c y ,
consisting of—
(a) a chairperson;
(b) not less than six and not m o r e than nine m e m b e r s ; and
(c) the Chief Executive Officer of the Agency, as an ex officio m e m b e r .
(2) T h e Board is responsible for the m a n a g e m e n t and control of the A g e n c y .
(3) T h e Board must prepare an Investment F r a m e w o r k Policy, as prescribed, and
review such policy on an annual basis.
(4) T h e Minister must appoint a panel which must c o m p i l e a shortlist of c a n d i d a t e s for
m e m b e r s of the Board, and such shortlist must be c o m p i l e d after a transparent and
competitive nomination p r o c e s s .
(5) T h e m e m b e r s of the Board c o n t e m p l a t e d in subsection (1)(a) and (b) are
appointed by the Minister, in consultation with the National A s s e m b l y , on the g r o u n d s
of their k n o w l e d g e a:id experience in technological innovation, technology m a n a g e
ment, intellectual property and commercialisation thereof and b u s i n e s s skills which,
when considered collectively, should enable them to attain the objects of the A g e n c y .
(6) Subject to the Promotion of Administrative Justice Act, 2 0 0 0 (Act N o . 3 of 2 0 0 0 ) .
the Minister m a y dissolve the Board on the g r o u n d s of m i s m a n a g e m e n t .
(7) (a) W h e n the Minister dissolves the Board in terms of subsection (6), the Minister
may appoint an interim body for the continued g o v e r n a n c e and control of the affairs of
the Agency, on such conditions as the Minister may d e t e r m i n e .
(b) Such a body must be appointed for a period not e x c e e d i n g six m o n t h s or until the
n e w Board is appointed in terms of subsection (5), w h i c h e v e r is the lesser.
Disqualification f r o m m e m b e r s h i p
6. A person may not be appointed or continue as a m e m b e r of the B o a r d if such person
is—
(a) declared by a competent court to be mentally ill. as defined in the M e n t a l
Health Act. 1973 (Act N o . 18 of 1973);
(b) convicted of an offence and sentenced to i m p r i s o n m e n t without the option of
a line, or in the case of fraud, to a fine or i m p r i s o n m e n t ;
(c) elected as a m e m b e r of National Assembly, a provincial legislature or the
council of a municipality, or is appointed as a delegate to the National Council
of Provinces by a provincial legislature:
(J) not a South African citizen or cease to be be a South African citizen:
(e) r e m o v e d from a position of trust by a c o m p e t e n t court of law; or
(f)
an unrehabilitated insolvent.