Financial Advisory and Intermediary Services Act, 2002
R 385
Government Immovable Asset Management Act, 2007 (Act No. 19 of 2007)13. Functions of custodian and accounting officer of custodian |
| (1) | The accounting officer of a custodian must, for all immovable assets for which that custodian is responsible— |
| (a) | compile, in accordance with section 7, and with due regard to the user immovable asset management plans submitted in terms of section 9, a custodian immovable asset management plan that forms part of the strategic plan of that custodian; |
| (b) | submit the custodian immovable asset management plan to the relevant treasury as part of its strategic plan; |
| (c) | advise the relevant treasury on the immovable asset management plans of users; |
| (d) | ensure that all activities that are associated with common law ownership are executed, including— |
| (i) | managing an immovable asset throughout its life cycle; |
| (ii) | assessing the performance of the immovable asset; |
| (iii) | assessing the condition of the immovable asset at least every fifth year; |
| (iv) | identifying the effect of the condition of an immovable asset on service delivery ability; |
| (v) | determining the maintenance required to return the immovable asset to the state in which it would provide the most effective service; |
| (vi) | estimating the cost of the maintenance activities identified; |
| (e) | establish and execute a performance measurement system as prescribed. |
| (2) | The accounting officer of a custodian must assist a user by making available information pertaining to an immovable asset used by that user as well as suitable alternatives, including analysing that information in a manner that would enable the user to make informed and effective decisions on the use and management of that immovable asset. |
| (3) | A custodian may dispose of a surplus immovable asset— |
| (a) | by the allocation of that immovable asset to another user; or |
| (b) | subject to the State Land Disposal Act, 1961 (Act No. 48 of 1961), and any provincial land administration law, by the sale, lease, exchange or donation of that immovable asset or the surrender of a lease. |
