The Applicant applies for an exemption from the requirement to appoint a social and ethics committee in terms of section 72(5)(b) of the Companies Act 71 of 2008 (the Act) on the basis that the activities of the Applicant do not reside within the interests of the greater public. The Applicant is a ring-fenced bankruptcy remote, special purpose vehicle which is used a s part of the securitisation program authorised by the South African Reserve Bank.
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