General and Further Education and Training Quality Assurance Act
R 385
Traditional Health Practitioners Act, 2007 (Act No. 22 of 2007)Chapter 2 : Establishment and Governance of Interim Traditional Health Practitioners Council of South Africa16. Funds of Council |
| (1) | The funds of the Council consist of— |
| (a) | money appropriated by Parliament; |
| (c) | penalties contemplated in sections 34, 38 and 43; and |
| (d) | any other fees contemplated in this Act. |
| (2) | The Council must utilise its funds to defray expenses incurred by the Council and the office of the registrar in the performance of their functions. |
| (3) | The Council must, with the concurrence of the Minister and the Minister of Finance, open an account with an institution registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990), and deposit therein all money received under subsection (1). |
| (4) | The Council may, with the approval of the Minister and the Minister of Finance, invest any money deposited under subsection (3), which is not required for immediate use, with an approved institution. |
| (5) | Any surplus which at the close of the Council's financial year stands to the credit of the Council must be carried forward to the next financial year as a credit in the account of the Council. |
| (6) | The Council may establish and operate a reserve fund and deposit therein such amounts as it considers necessary or expedient. |
