Older Persons Act, 2006
R 385
South African Social Security Agency Act, 2004 (Act No. 9 of 2004)Chapter 4 : Funds and Business of Agency9. Funds of Agency |
| (1) | The funds of the Agency consist of— |
| (a) | money appropriated by Parliament; |
| (b) | grants made to the Agency by a designated institution; |
| (c) | donations or contributions received by the Agency with the approval of the Minister, subject to subsection (3); |
| (d) | fee for services rendered to any designated institution in terms of a service agreement. |
| (2) | The Agency must utilise its funds to defray expenses incurred by it in the performance of its functions. |
| (3) | The Agency must utilise the donations and contributions referred to in subsection (1)(c) in accordance with the conditions, if any, imposed by the donor or contributor concerned, but those conditions may not be inconsistent with the objects of the Agency as contained in this Act or any other law. |
| (4) | The Chief Executive Officer must, with the concurrence of the Minister and the Minister of Finance— |
| (a) | open an account in the name of the Agency with an institution registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990); and |
| (b) | deposit therein all money received in terms of subsection (1). |
