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Broadcasting Act, 1999 (Act No. 4 of 1999)

Chapter IV : Public Broadcasting Service and Charter of Corporation

Part 6 : Financial matters

24. Accounts

 

(1) The Corporation must keep proper account of all moneys received or expended by it and of all its assets, liabilities and financial transactions.

 

(2) The Corporation must as soon as practicable after the end of each financial year, prepare statements of accounts and a balance sheet showing in appropriate detail the revenues and expenditure of the Corporation during that financial year, and its assets and liabilities as at the end of each financial year.

 

(3) The Corporation must in its accounts referred to in subsection (2) reflect separately the accounts of the public and commercial services.

 

(4) The Board must ensure that the Corporation complies with the Public Finance Management Act in relation to accounting procedures by public entities.

[Section 24(4) inserted by section 19 of Act No. 64 of 2002, GG 24340, dated 4 February 2003]