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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 8 : Regulatory Agencies and Administration of Act

Part E : Administrative provisions applicable to agencies

210. Finances

 

(1) The Commission, the Companies Tribunal and the Panel, are each financed from—
(a) money appropriated by Parliament;
(b) any fees payable in terms of this Act;
(c) income derived from their respective investment and deposit of surplus money in terms of subsection (2); and
(d) other money accruing from any source.

 

(2) The financial year of each of the Commission, the Companies Tribunal, and the Panel is the period of 12 months beginning 1 April each year, and ending on the following 31 March, except that, in each case, the first financial year—
(a) begins on the date that the section of this Act establishing that entity came into operation; and
(b) ends on the next following 31 March.

 

(3) The Commissioner or Executive Director, as the case may be, in consultation with the Minister and with the concurrence of the Minister of Finance, may determine the remuneration, allowances, benefits, and conditions of appointment of each employee of the Commission or Panel, as the case may be.