Johannesburg - Cricket SA's (CSA) acting president, AK Khan, says the federation's board has not left it too late to familiarise itself with the Companies' Act.
Under-fire CSA CEO Gerald Majola, the key figure in a lengthy bonus saga, said on Saturday morning the board would be "taken through" the Act later in the afternoon.
"The Companies' Act came into effect only last year, and you have two years to complete the process," Khan said after the board's quarterly meeting in Johannesburg.
"We are expecting to complete that process later this year."
A KPMG report found last year that Majola, who was paid millions of rand in bonuses which were not fully declared to the CSA remuneration committee, had breached the Companies Act on at least four occasions.
Majola said on Saturday he had not considered resigning from his post throughout the bonus saga, and defended the timing of CSA in ensuring the board was familiar with the Companies' Act.
"It is never too late to learn," Majola said.
Khan refused to comment on the ongoing ministerial inquiry into the undeclared bonuses paid to Majola, former CSA Chief Operations Officer Don McIntosh and other CSA staff.
"That report [from the inquiry committee] is only expected to be completed at the end of February or March," Khan said.
"Until that report has been released, we cannot discuss it."
Earlier in the week, former CSA president Norman Arendse told the inquiry committee, led by Judge Chris Nicholson, the bonus saga could have done more damage to the sport than the Hansie Cronje match-fixing scandal 12 years ago.
The federation struggled to find sponsors this season for domestic competitions - with no private funding for the one-day and T20 series - and international tours.
Majola, meanwhile, announced that Oupa Nkagiseng had been appointed to chair the CSA remuneration committee, replacing Thandeka Mgoduso who resigned in October.