| (1) |
The Fund may not use more than 10 per cent of the money allocated to the Fund in terms of section 8(3)(a) of the Skills Development Levies Act for the administration of the Fund in respect of that financial year, as provided for in section 28(2) of the Act. |
| (2) |
The Fund may not use more than 10 per cent of the available reserves for nonrecurring administrative expenses of the Fund. |
| (3) |
In addition to subregulation (1), the Fund must defray the costs of the levy collection by the Commissioner, from the levies paid into the Fund, as determined in section 10 of the Skills Development Levies Act, 1999. |
| (4) |
For the purpose of subregulation (1) administration costs includes, but not limited to "payments" as determined by National Treasury from time to time in the Standard Chart of Accounts. In the Standard Chart of Accounts "payments" includes the following categories— |
| (a) |
Compensation of Employees; |
| (c) |
Interest and rent on land; |
| (d) |
Financial transactions in assets and liabilities; and |
| (e) |
Purchase and construction of Capital Assets. |
The payment categories are defined and provided for in the Standard Chart of Accounts.
Copyright Act, 1978
