[Section 13 heading substituted by section 11(a) of Act No. 29 of 2007]
| (1) |
All registration, examination, annual and other fees payable under this Act shall be paid to the council, unless otherwise provided, and shall constitute the funds of the council and the council shall utilise the funds for defraying expenses incurred in connection with the performance of its functions and the functions of professional boards. |
[Subsection (1) substituted by section 11(b) of Act No. 29 of 2007]
| (2) |
The council may invest any unexpended portion of its moneys and may establish such reserve funds and pay therein such amounts as it may deem necessary or expedient. |
| (a) |
keep full and proper records of all money received and expenses incurred by, and of all assets, liabilities and financial transactions of, the council and the registrar; |
| (b) |
as soon as is practicable, but not later than four months after the end of each financial year, prepare annual financial statements in respect of the financial year in question; |
| (c) |
ensure that the council has and maintains— |
| (i) |
effective, efficient and transparent systems of financial and risk management and internal control; |
| (ii) |
an appropriate procurement and provisioning system which is fair, equitable, transparent, competitive and cost effective; and |
| (iii) |
a system for properly evaluating all projects involving expenditure of capital prior to a final decision on the project; |
| (d) |
ensure the effective, efficient, economical and transparent use of the resources of the council; |
| (e) |
take effective and appropriate steps to— |
| (i) |
collect all money due to the council; |
| (iii) |
manage available working capital efficiently and economically; |
| (f) |
take into account all relevant financial considerations, including issues of propriety, regularity and value for money, when policy proposals affecting the registrar's responsibilities are considered and, when necessary, bring those considerations to the attention of the council; |
| (g) |
be responsible for the management, including the safeguarding and maintenance, of the assets and for the management of the liabilities of the council; |
| (h) |
settle all contractual obligations and pay all money owing by the council within 30 days of due date or within a period agreed by the relevant creditor and the council; |
| (i) |
ensure that expenditure of the council is in accordance with the decisions of the council and that effective and appropriate steps are taken to prevent unauthorised expenditure; |
| (j) |
keep full and proper records of the financial affairs of the council in accordance with any prescribed norms and standards; |
| (k) |
prepare financial statements for each financial year in accordance with recognised accounting practice; |
| (l) |
submit the financial statements within two months after the end of a financial year to an independent auditor for auditing; and |
| (m) |
submit within six months after the end of a financial year to the council for approval, and thereafter to the Minister within one month of such approval— |
| (i) |
an annual report on the activities of the council during that financial year; |
| (ii) |
the financial statements for that financial year after those statements have been audited; and |
| (iii) |
an independent auditor's report on those statements, |
[Subsection (3) inserted by section 11(c) of Act No. 29 of 2007]
| (4) |
The council must ensure that the requirements of subsection (3) are met and properly fulfilled. |
[Subsection (4) inserted by section 11(c) of Act No. 29 of 2007]
| (5) |
If an accounting officer is unable to comply with any of the responsibilities determined in subsection (3), he or she must promptly report the inability, together with reasons, to the Minister and the council. |
[Subsection (5) inserted by section 11(c) of Act No. 29 of 2007]
| (6) |
Any person who obstructs the registrar or the council in fulfilling the requirements of subsections (3) and (4) is guilty of an offence and is liable on conviction to a fine or imprisonment for a period not exceeding two years or to both a fine and such imprisonment. |
[Subsection (6) inserted by section 11(c) of Act No. 29 of 2007]
Contingency Fees Act, 1997
