Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Codes of Good Practice on Black Economic Empowerment

Purchase

10.1	The financial year of the MAC Charter Council shall be the period commencing on 1 April of each year and ending on 31 March.

10.2	Financial books will be kept in accordance with general accepted accounting principles. Financial reports will be presented to the council at every standing meeting. The Secretariat shall arrange for an annual audit to be conducted and presented to the council.

10.3	The MAC Charter Council shall have all the powers necessary to carry out its mandate.