The rand slid against the dollar on Wednesday morning on fears that Gordhan will be arrested..
The board was elected more than a year ago, but the last time any board members were officially registered was when Leonard Chuene was still president.
Sowetan is in possession of an e-mail sent by an ASA employee to board members yesterday, asking them to sign a notice-of-change-of-directors form to rectify the problem.
"The Companies Act requires that members of the board must sign a written consent to act as directors," reads the letter.
"The bank needs this proof. Our account is currently blocked and the bank needs proof of who the directors are, and also a board resolution with the bank signatories. Until they get that they will not unfreeze the account. Unless the account is unfrozen, we cannot make flight bookings."
ASA president James Evans - who himself has accused SA Sports Confederation and Olympic Committee [Sascoc] of contravening the Companies Act on various technicalities - declined to comment.
Sascoc suspended Evans and his board in April, and put an administrator in charge of the federation.
Yesterday, the Athletics Gauteng North [AGN] executive called for probes into ASA's board and finances, saying it had distanced itself from the meeting in Pretoria last month.
In a letter to ASA, AGN's acting vice-president Bob Marara said: 'The meeting was not properly constituted and we therefore do not accept the resolutions that were adopted, and we distance ourselves from all the discussions there.
"AGN proposes and requests for an urgent special general meeting to discuss the way forward for ASA for the benefit of our athletes and to appoint an independent investigation into the entire board, finance and administration of ASA."
Central Gauteng has already called for a special general meeting, saying it had lost confidence in ASA executive.