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Compensation for Occupational Injuries and Diseases Act, 1993 (Act No. 130 of 1993)

Chapter III : Compensation Fund and Reserve Fund

20. Accounts and audit


(1) The Director-General shall keep such accounts, including an account with a bank contemplated in the Banks Act, 1990 (Act No. 94 of 1990), and records as are necessary for the exercise of proper control over the compensation fund and the reserve fund, and shall prepare yearly balance sheets made up to the last day of the financial year, showing in all necessary detail the assets and liabilities and the revenue and expenditure of the funds.

[Section 20(1) substituted by section 10 of Act No. 61 of 1997]


(2) The accounts of the said funds shall be audited by the Auditor-General, and the cost of such audit shall be paid out of the compensation fund.


(3) The Director-General shall, as soon as possible after the completion of the balance sheets referred to in subsection (1), submit a copy thereof and a copy of the report referred to in section 4(1)(n) to the Minister, who shall table such copies in Parliament within 30 days after receipt thereof, if Parliament is in ordinary session or, if Parliament is not in ordinary session, within 30 days of the commencement of its next ensuing ordinary session.