(1) The funds of the council shall consist of—
(a) money paid to the council in terms of this Act; and
(b) all other moneys which may accrue to the council from any other source.
[Section 11(1)(b) substituted by section 10(a) of Act No. 47 of 2003]
| (2) |
The council shall utilize its funds to defray expenses incurred by the council in the performance of its functions and the exercise of its powers under this Act. |
| (2A) |
The council may, subject to such terms and conditions as it may deem fit— |
| (a) |
make grants with regard to— |
| (i) |
research in fields of activity relevant to the business of agents in general; |
| (ii) |
the maintenance and promotion of the standard of conduct of agents in general; |
| (iii) |
the maintenance and promotion of the training standards of agents in general; |
| (b) |
pay an honorarium or remuneration to any person or institution for services with the object of enhancing the standard of conduct of agents in general. rendered at the request of the council; and |
| (c) |
utilize such amount as it may determine for the purposes of— |
| (i) |
advertising and promoting the services and facilities offered by agents in general; or |
| (ii) |
promoting public awareness in respect of matters relating to the purchase of agricultural products referred to in Part A or B of Schedule 1. |
[Section 11(2A) inserted by section 10(b) of Act No. 47 of 2003]
| (2B) |
The council may at any time revoke any grant referred to in subsection (3)(a). |
[Section 11(2B) inserted by section 10(b) of Act No. 47 of 2003]
| (4) |
The council may invest any moneys deposited by it in an account in terms of subsection (3) and which are not required for immediate use. |
| (5) |
The financial year of the council shall end on 31 March in each year and the council shall report annually on its activities to the Minister. |
[Section 11(5) substituted by section 10(c) of Act No. 47 of 2003]
| (5A) |
The council shall, at least three months prior to the start of its financial year. provide to the Minister for his or her information a business plan of the forthcoming financial year containing at least— |
| (a) |
the budget of the council for that forthcoming year; |
| (b) |
particulars about any training. promotional or other activities that the council plans to undertake during that year; |
| (c) |
such other particulars as the Minister may request. |
[Section 11(5A) inserted by section 10(d) of Act No. 47 of 2003]
(6) The council shall—
| (a) |
cause accounting records to be kept of all moneys received or expended by it, and of all its assets, liabilities and financial transactions; and |
| (b) |
as soon as possible, but not later than three months after the end of each financial year, cause annual financial statements to be prepared showing, with all the appropriate particulars, the money received and the expenditure incurred by it during, and its assets and liabilities at the end of, that financial year. |
| (7) |
The records and annual financial statements referred to in subsection (6) shall be audited by an auditor appointed by the council. |
| (8) |
The council shall within six months of the end of each financial year submit to the Minister a copy of the audited annual financial statements referred to in subsection (6)(b) , together with a report on the activities of the council during that financial year. |
| (9) |
Copies of the annual financial statements and of the report referred to in subsection (8) shall— |
| (a) |
be open to public inspection at the office of the council during office hours; and |
| (b) |
be obtainable from the council against payment of the amount determined therefor by the council. |
[Section 11(10) substituted by section 10(e) of Act No. 47 of 2003]
Civil Aviation Act, 2009
