Intellectual Property Rights from Publicly Financed Research and
R 385
Media Development and Diversity Agency Act, 2002 (Act No. 14 of 2002)Regulations in terms of section 22 of the Media Development and Diversity Agency Act (Act No. 14 of 2002)11. Percentage allocation of administration costs |
| 1) | Subject to sub-regulation (2)- |
| a) | For the first financial year of the Agency, the Board must allocate a maximum of 35% of the funds as contemplated in section 15(1) of the Act for use as contemplated in section 15(2)(b) of the Act. |
| b) | In subsequent financial years of the Agency, the Board must allocate a maximum of 25% of the funds as contemplated in section 15(1) of the Act, for use as contemplated in section 15(2)(b) of the Act. |
| 2) | The Board may deviate from the percentage allocation contemplated in subregulation (1), if it is reasonable and justifiable to do so. |
