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National Empowerment Fund Act, 1998 (Act No. 105 of 1998)

18. Financing of Trust

 

 

(1) The operating and capital expenses of the Trust will be financed by grants, loans, income generated by the Trust or money appropriated by Parliament for that purpose.

 

(2) The Trust must utilise any money referred to in subsection (1) in accordance with the statement of estimated expenditure referred to in subsection (3).

 

(3)        The Trust—

(a) must in each financial year, at a time determined by the Minister, submit to him or her for his or her approval granted with the concurrence of the Minister of Finance, a statement of estimated income and expenditure, for the next financial year;
(b) may in any financial year submit adjusted statements of estimated income and expenditure to the Minister for his or her approval, granted with the concurrence of the Minister of Finance; and

(c)        must comply with the provisions of the Reporting by Public Entities Act, 1992 (Act No. 93 of 1992).