Gas Regulator Levies Act, 2002
R 385
Road Accident Fund Act, 1996 (Act No. 56 of 1996)4. Powers and functions of Fund |
| (1) | The powers and functions of the Fund shall include— |
| (a) | the stipulation of the terms and conditions upon which claims for the compensation contemplated in section 3, shall be administered; |
| (b) | the investigation and settling, subject to this Act, of claims arising from loss or damage caused by the driving of a motor vehicle whether or not the identity of the owner or the driver thereof, or the identity of both the owner and the driver thereof, has been established; |
| (c) | the management and utilisation of the money of the Fund for purposes connected with or resulting from the exercise of its powers or the performance of its duties; and |
| (d) | procuring reinsurance for any risk undertaken by the Fund under this Act. |
| (2) | In order to achieve its object, the Fund may— |
| (a) | purchase or otherwise acquire goods, equipment, land, buildings, shares, debentures, stock, securities and all other kinds of movable and immovable property; |
| (b) | sell, lease, mortgage, encumber, dispose of, exchange, cultivate, develop, build upon, improve or in any other way deal with its property; |
| (c) | invest any money not immediately required for the conduct of its business and realise, alter or reinvest such investments or otherwise deal with such money or investments; |
| (d) | borrow money and secure the payment thereof in such manner as it may deem fit; |
| (e) | make donations for research in connection with any matter relating to injuries sustained in motor vehicle accidents on such conditions as it may deem advisable; |
| (f) | draw, draft, accept, endorse, discount, sign and issue promissory notes, bills and other negotiable or transferable instruments, excluding share certificates; |
| (g) | take any other action or steps which are incidental or conducive to the exercise of its powers or the performance of its functions; |
| (h) | make financial contributions to road safety projects and programmes approved by the Minister; |
| (i) | conclude any agreement with any person for the performance of any particular act or particular work or the rendering of particular services contemplated in this Act. |
| (3) | In the exercising of the powers conferred on it by this Act, the Fund may deal with any person, partnership, association, company, corporation or other juristic person wherever seated. |
| (4) |
| (a) | The Fund may conclude an agreement with any other organ of State regarding any matter provided for in this Act in order to improve or ensure— |
| (i) | the effective management of the Fund; |
| (ii) | the efficiency of the Fund; |
| (iii) | co-ordination of functions; |
| (iv) | co-operative governance contemplated in Chapter 3 of the Constitution. |
| (b) | The Minister shall, by notice in the Gazette, publish a summary of the terms of any agreement concluded under paragraph (a). |
