Platinum Membership
R
Railway Safety Act, 2024 (Act No. 30 of 2024)Chapter 2 : Railway Safety Regulator27. Funds of Regulator |
| (1) | The funds of the Regulator consist of— |
| (a) | money appropriated by Parliament; |
| (b) | fees paid to the Regulator as determined by the Minister in terms of section 66; |
| (c) | subject to section 67(3), levies, penalties for the non-payment of levies and interest on the late payment of levies, paid to the Regulator in accordance with any legislation providing for the imposition of levies; and |
| (d) | any other fees or sources of income provided for in this Act or in other legislation. |
| (2) | The Regulator must utilise the funds contemplated in subsection (1) to defray expenses incurred by it in the performance of its functions. |
| (3) | The CEO must— |
| (a) | open an account in the name of the Regulator with an institution registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990); and |
| (b) | deposit therein any money received in terms of subsection (1). |
| (4) | The board may, with the approval of the Minister, invest any money received in terms of subsection (1), which is not required for immediate use with such other institutions approved for that purpose by the National Treasury. |
| (5) | The Regulator may use interest derived from the investment referred to in subsection (4) to defray expenses in connection with the performance of its functions. |
