| (1) |
The funds of the Council consist of— |
| (a) |
moneys appropriated by Parliament to perform the functions of the Council; |
| (b) |
other moneys received in terms of this Act; |
| (c) |
revenue obtained from investments; |
| (d) |
fees or royalties obtained from intellectual property of the Council; |
| (e) |
donations or contributions received from any person, body, government or administration; and |
| (f) |
any other money received from any other source. |
[Section 42(7) empowers the Minister to provide funds for the administration of the Council and its committees from public funds.]
| (2) |
Moneys appropriated by Parliament must be used for— |
| (a) |
the payment to members who are not in the full-time service of the State of such remuneration and allowances as the Minister may determine with the agreement of the Minister of Finance; and |
| (b) |
the payment for administrative functions of the Council and committees. |
[Section 42(7) requires the agreement of the Minister of Finance for the provision of funds for the administration of the Council and its committees from public funds.]
| (3) |
Moneys referred to in subitem (1)(b), (c), (d) or (f) may be— |
| (a) |
used as contemplated in this Act; |
| (b) |
invested with any bank registered as such under the Banks Act, 1990 (Act No. 94 of 1990), or invested in such other manner as may be determined by the Minister with the agreement of the Minister of Finance; and |
| (c) |
used to register or utilise any intellectual property of the Council. |
| (4) |
Moneys referred to in subitem (1)(e) must be utilised in accordance with the conditions, if any, imposed by the donor or contributor of such moneys. |
| (5) |
The chairperson of the Council must for each financial year submit a statement of estimated income and expenditure during such financial year to the Minister who, with the agreement of the Minister of Finance, must approve the budget for— |
| (a) |
the first financial year, before the first meeting of the Council; and |
| (b) |
every other financial year, before the beginning of such financial year. |
Gas Regulator Levies Act, 2002
