Higher Education Act, 1997 (Act No. 101 of 1997)

Chapter 5 : Funding of Public Higher Education

Purchase

[Section 41 heading substituted by section 13(a) of Notice No. 21, GG 40548, dated 17 January 2017]

(1)	The council of a public higher education institution must in the manner prescribed by the Minister—

(a)	keep records of all its proceedings; and

(b)	in respect of the public higher education institution concerned as a whole—

(i)	ensure the implementation of an external audit in accordance with accepted audit principles and standards on an annual basis; and

(ii)	keep complete accounting records of all assets, liabilities, income and expenses and any other financial transactions.

[Section 41(1)(b) substituted by section 13(b) of Notice No. 21, GG 40548, dated 17 January 2017]

(2)	The council of a public higher education institution must by a date or dates and in the manner determined by the Minister, provide the Minister with such information, in such format, as the Minister may prescribe.

[Section 41(2) substituted by section 13(c) of Notice No. 21, GG 40548, dated 17 January 2017]