| (1) |
There is hereby established an account to be known as the Special Account for the Safeguarding of National Key Points (hereinafter referred to as the account), into which shall be paid — |
| (a) |
moneys appropriated by Parliament for the account; |
| (b) |
moneys appropriated by Parliament by an Appropriation Act or any other Act for the requirements of a State department and which the Minister who administers that department, with the concurrence of the Minister of Finance directs to be utilized for the security of a particular Key Point or Key Points Complex; |
| (c) |
moneys recovered or received from the owner of a Key Point in terms of this Act; |
| (d) |
moneys received by way of a refund of expenditure incurred on the account; |
| (e) |
interest derived from the investment of moneys standing to the credit of the account; and |
| (f) |
moneys which accrue to the account from any other source. |
| (2) |
The moneys in the account shall be utilized to— |
| (a) |
render at the discretion of and on the conditions determined by the Minister financial assistance, including loans at the interest rate contemplated in section 26 of the Exchequer and Audit Act, 1975 (Act No 66 of 1975), to an owner in connection with steps taken or to be taken by such owner in respect of the security of a Key Point in terms of this Act; |
| (c) |
defray expenditure in connection with the safeguarding of Key Points. |
| (3) |
Notwithstanding anything to the contrary in any other law contained the Minister, with the concurrence of the Minister of Finance, shall designate a person in the service of the State who shall be deemed to be the accounting officer for the account for the purposes of section 15 of the Exchequer and Audit Act, 1975 (Act No. 66 of 1975). |
| (4) |
A bank account shall be kept for the account at the South African Reserve Bank. |
| (5) |
Moneys standing to the credit of the account which are not required for immediate use or as reasonable working balance, may be invested in such manner as the Minister may determine with the concurrence of the Minister of Finance. |
| (6) |
Any unexpended balance in the account at the close of any financial year, including accrued interest on investment balances and other receipts, shall be carried forward as a credit in the account to the following financial year. |
| (7) |
The account shall be audited by the Auditor-General. |
[Section 3B inserted by section 4 of Act No. 47 of 1985]
Mandating Procedures of Provinces Act, 2008
