As mandated and authorized by the NMF, the NBF is a legal persona with perpetual legal succession and the NBF EXECUTIVE COMMITTEE, as determined by this policy, is its agent.

1. The NBF is as independent legal persona distinct from the church and / or its members and/or the members of the NBF shall, subject to the regulations, as separate legal persona:

   1. Be entitled to own immovable property, assets and funds distinct from the church or its members or the members of the NBF;

   2. Be capable of acquiring rights, obligations, privileges, powers and liabilities, distinct from the church or its members or the members of the NBF;

   3. Be capable of instituting and/or defending legal action in its own name;

   4. Be capable of conducting legal transactions of whatsoever nature in its own name;

   5. Be capable of acquiring property and to dispose of, alienate or encumber its property and to in any way deal with its property;

   6. Be capable of employing persons in its employ, as it may deem necessary and as envisaged in this policy.

2. The NBF COMMITTEE has the competency to execute any legal transaction or any other action which might be necessary to fulfil its mandate in general and to conduct NBF business affairs, and to exercise the powers, and to control the operations of the NBF on her behalf.

 

1. The NBF shall receive, administer and account for income, expenditure, assets and liabilities of the NBF in accordance with the provisions of the International Financial Policy which forms part of the regulations.

 

1. The Constitution and Regulations of the AFM of SA and that of the AFM Business Forum International shall be the Constitution and Regulations of the NBF.

​

​