Intellectual Property Rights from Publicly Financed Research and
R 385
Public Funding of Represented Political Parties Act, 1997 (Act No. 103 of 1997)8. Commission to report to Parliament on Fund |
| (1) | As soon as possible after the end of each financial year, the Commission must have— |
| (a) | a report prepared regarding its management and administration of the Fund during that financial year; |
| (b) | financial statements prepared in relation to the Fund, showing— |
| (i) | the amounts received by and accrued to the Fund during that financial year; |
| (ii) | the allocations made from the Fund to the respective political parties during that year; |
| (iii) | the amounts spent during that year by each political party in connection with purposes classifiable under the generally descriptive categories as prescribed from time to time; and |
| (iv) | the balance of the Fund and any amounts owing to or by the Fund as at the end of that year. |
| (2) | The Commission must submit that report, those statements and the Commission’s books and records of account relating to the Fund to the Auditor-General for auditing. |
| (3) | Within 30 days after receipt of the Auditor-General’s report, the Commission must submit that report to Parliament together with the audited financial statements of the Fund and the audited Commissions report. |
