Payments Association of South Africa
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PASA Council

PASA’s Council, or board, is the governing body of PASA and is composed of Councillors drawn from PASA’s Members. Although appointed by Members, Councillors have a fiduciary responsibility (i.e. they act independently and objectively, in the best interest of the NPS and with a holistic and inclusive mind-set). PASA Council therefore bears the responsibility of ensuring an efficient, reliable and stable payments environment to serve the South African economy and people as a whole.

PASA Council is comprised of an Independent Chairperson who holds a casting vote, as well as nine Councillors appointed by:

  • Any Member with a throughput representing more than 10 % of the total, value and volume cleared through the interbank systems during the previous year. In practice, this currently adds up to four voting Members;
  • Three  Members elected by the rest of the members (commonly referred to as the “lower volume and value banks”) as voting Members;
  • The Chief Executive Officer of PASA as a voting Member; and
  • The SARB as a non-voting Member

Councillors and the Deputy Chairperson are appointed on a biannual basis from amongst PASA Members 

In summary, PASA Council is:

  • The Governing  body  of PASA;
  • Appointed  by  Members
  • But  not to represent  Members

PASA Council has power and authority to, inter alia:

  • Govern PASA
  • Amend the  Constitution
  • Direct  PASA  to withdraw or to reinstate a Member’s status of  good standing
  • Dissolve PASA  (subject to the  approval  of the Reserve Bank)
  • Constitute, establish, maintain  or  dissolve  any  PASA Structure

At present PASA Council is constituted of the following Councillors –


 
Council

COUNCIL COMMITTEES


In line with the King III requirements PASA Council has a number of supporting committees (refer to diagram) 

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