Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Correctional Services Act, 1998 (Act No. 111 of 1998)Regulations for the Administration of the Department of Correctional Services of the Republic of South AfricaChapter VIII : Human Resources and Work Organisation Matters38. Establishment of Correctional Services Facilities Fund |
| 1) | A Correctional Services Facilities Fund was established in terms of the provisions of the Correctional Services Act, 1959 and continues to exist in terms of section 134(1)(jj) of the Act. |
| 2) |
| a) | The administration and control of the Fund is vested in a Board of Trustees with the powers, functions and duties as prescribed by the Order. |
| b) | The Board consists of- |
| i) | The National Commissioner as chairperson; |
| ii) | The Chief Deputy Commissioner Corporate Services as deputy chairperson; |
| iii) | The Director Facilities Fund as Fund Executive; |
| iv) | Three Board Members elected by the members of the fund on a three yearly basis at the Annual General Meeting; and |
| v) | Three Non-Executive Members appointed by the National Commissioner for a term of three years with specialised knowledge in legal and or financial aspects |
| c) | Upon expiry of a term of office for an appointed member of the Board, he or she may be nominated again for a further term: Provided that no member may serve office for a period of more than two terms. |
| d) | If a nominated member of the Board dies or vacates his or her office for any other reason, before the expiry of his or her term of office, the National Commissioner must appoint another person in his or her place and the person appointed thus remains in the post as an appointed member of the Board for the unexpired part of the term of office of the member who died or vacated office. |
| e) | An appointed member of the Board evacuates his or her office |
| i) | If he or she becomes mentally or physically unfit to perform his or her duties; |
| ii) | If he or she retires, resigns or is dismissed from the Department; |
| iii) | If he or she dies; or |
| iv) | If his or her appointment to the Board is revoked by the National Commissioner for any other reason. |
| 3) | The purpose of the Fund is to, in the interest of the Department, make provision for grants or loans: |
| a) | to Correctional Services clubs for the promotion of sport and recreation; |
| b) | For the establishment and maintenance of holiday resorts where necessary; |
| c) | to correctional officials for the purpose of study or research; |
| d) | for any other purpose which, in the opinion of the Board of Trustees, is meritorious and in the interest of the Department. |
| 4) | The assets of the fund consist of: |
| a) | Monies, assets and investments, together with accrued interest or dividends which, with the approval of the Board, have been paid or transferred by any existing Correctional Services Benefit Fund or association of the Fund, for its sole benefit and ownership; |
| b) | any grants made by the State; and |
| c) | any other donations to the Fund, interest or dividends from investments, and any other income. |
| d) | In conducting its business the Board will be subject to the provisions of the Financial Institutions (Protection of Funds) Act, 2001 (Act No. 28 of 2001), and the Financial Services Board Act, 1990 (Act No. 97 of 1990); and |
| 5) | The Board of Trustees has the power to- |
| a) | Receive any monies, assets, allocations, donations and interest or dividends raised on investments as well as other income in terms of Regulation 38 (4) (a) for and on behalf of the Board; |
| b) | Keep in trust any monies in terms of paragraph (a) and to profitably invest any part of it which is not immediately required, with such security and in such a manner as Board determines; |
| c) | Approve allocations and loans for purposes mentioned in regulation 38(3); |
| d) | In terms of regulation 38 (2) (b) to sue in its own name and be sued and to obtain movable and immovable property, possess it or alienate it, and to take necessary steps, make arrangements, register bonds, and make commitments with any authorized financial services provider for obtaining the necessary funds with regard to procurement, or alienation of such movable or immovable property; and |
| e) | Take any measure to promote the interests of the Fund. |
| 6) | The Board of Trustees must manage the financial affairs of the Fund and ensure that- |
| a) | proper accounts of all financial matters of the Fund shall be kept by the Board; |
| b) | all monies received on behalf of the Fund, must promptly be paid into a current account or other accounts in the name of the Fund at an authorized financial service provider as determined by the Board; |
| c) | all payments, including electronic payments must be authorized in relation to such account by the secretary or treasurer and any other member of the Department of Correctional Services designated, by the Board; |
| d) | cheques, bills of exchange, promissory notes, bank books and other financial documents of, or in aid of the Fund, must be signed or endorsed, as determined by the Board; |
| e) | all expenditure related to, or resulting from the management or administration of the Fund, investments in aid of the Fund, auditor's fees and any other expenditure which have accumulated on behalf of the Fund by the Board, are carried by the Fund, subject to the approval of the Board; |
| f) | balance sheets and statements of income and expenditure for the financial year of the Fund must be submitted to the Board and must be made available upon request for perusal by any member during office hours; |
| g) | the books, documents and securities of the Fund must be audited annually by a chartered accountant, appointed by the Board; and |
| h) | the funds must be used exclusively for investment and for objectives for which the Fund has been established. |
