| (1) |
The funds of the Authority shall consist of— |
| (a) |
State funds received through the Department of Health; |
| (b) |
fees raised and interest on overdue fees; |
| (c) |
money accruing to the Authority from any other source. |
| (a) |
The Authority may accept money or other goods donated or bequeathed to the Authority, provided no condition is attached to such donation or bequest; |
| (b) |
Details of any such donation or bequest shall be specified in the relevant annual report of the Authority. |
| (3) |
The Authority shall utilise its funds for the defrayal of expenses incurred by the Authority in the performance of its functions under this Act. |
| (4) |
The Authority shall open an account with a bank as defined in section 1(1) of the Banks Act, 1990 (Act No. 94 of 1990), and shall deposit in that account all money referred to in subsections (1) and (2). |
| (5) |
The Authority shall keep full and proper records of all money received or expended, of its assets and liabilities and of its financial transactions. |
| (6) |
The records and annual financial statements referred to in subsection (5), shall be audited by the Auditor-General. |
| (7) |
The Authority may invest money which is deposited in terms of subsection (4) and which is not required for immediate use in any manner as it may deem fit. |
| (8) |
Any money which at the close of the Authority's financial year stands to the credit of the Authority in the account referred to in subsection (4) and money which has been invested in terms of subsection (7), shall be carried forward to the next financial year as a credit in the account of the Authority. |
[Section 33A substituted by section 39 of Notice No. 434, GG 32148, dated 21 April 2009]
Intellectual Property Rights from Publicly Financed Research and
