Division of Revenue Act, 2011
R 385
South African Qualifications Authority Act, 1995 (Act No. 58 of 1995)10. Funds of Authority |
| (1) | The funds of the Authority shall consist of— |
| (a) | moneys appropriated by Parliament for the achievement of the objectives of the Authority; |
| (b) | moneys received by the Authority by virtue of the regulations made in terms of section 14; |
| (c) | moneys obtained by means of loans raised by the Authority with the approval of the Minister, granted with the concurrence of the Minister of Finance; |
| (d) | donations, contributions or royalties received by the Authority; and |
| (e) | interest on investments. |
| (2) | The Authority shall employ its funds to defray expenses in connection with the performance of its functions. |
(3)
| (a) | The Authority shall in each financial year, at such time and in such form as the Minister may determine, submit a statement of its estimated income and expenditure for the ensuing financial year to the Minister for approval. |
| (b) | The moneys, contemplated in subsection (1)(a), shall be employed by the Authority, in accordance with the approved statement referred to in paragraph (a), and any unexpended balance shall be carried forward as a credit to the following financial year. |
| (4) | Subject to the provisions of subsection (3)(b), the Authority may invest any portion of its funds in such manner as the Minister, with the concurrence of the Minister of Finance, may approve. |
| (5) | The Authority may charge or waive fees— |
| (a) | for the granting of any registration or accreditation; and |
| (b) | for any services provided by the Authority. |
