| (1) |
The funds of the board shall consist of— |
| (a) |
[Section 16(1)(a) deleted by section 4 of Act No. 41 of 1992] |
| (b) |
money raised as fees, and interest in respect of overdue fees, in respect of services rendered by the board in the performance of its functions under this or any other Act or levies imposed by the board under section 15A on financial institutions and interest in respect of overdue levies; |
[Section 16(1)(b) substituted by section 3 of Act No. 84 of 1992]
| (c) |
money borrowed by the board subject to the provisions of section 12(3)(d); and |
| (d) |
money accruing to the board from any other source. |
| (a) |
The board may accept money or other goods donated or bequeathed to the board, provided no condition is attached to such donation or bequest. |
| (b) |
Details of any such donation or bequest shall be specified in the annual report in question of the board. |
| (3) |
The board shall utilize its funds for the defrayal of expenses incurred by the board in the performance of its functions under this Act. |
| (4) |
[Section 16(4) deleted by section 59 of Act No. 45 of 2013] |
| (5) |
[Section 16(5) deleted by section 59 of Act No. 45 of 2013] |
| (6) |
Any money standing to the credit of the board in the account referred to in subsection (4) at the close of any financial year of the board, as well as money which has been invested in terms of subsection (5), shall be carried forward to the next financial year as a credit in the account and of the board. |
Older Persons Act, 2006
