Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Lotteries Act, 1997 (Act No. 57 of 1997)RegulationsRegulations Relating to Allocation of Money in National Lottery Distribution Trust Fund, 20108 - 16. Categories of Grants |
| (8) | The National Lotteries Commission must categorise the grant funding as follows: |
| (a) | small grants for application of funding not exceeding five hundred thousand rand (R500, 000.00); |
| (b) | medium grants for application of funding for more than five hundred thousand rand (R500, 000.00) but does not exceed five million rand (R5, 000, 000.00); and |
| (c) | large grants for application of funding in excess of five million rand (R5, 000, 000.00). |
[Regulation 8 inserted by regulation 3 of Notice R. 311 dated 14 April 2015]
| (9) | Irrespective of the amount applied for, the Distribution Agency shall in its discretion determine the amount to be made to each approved applicant, after duly considering the monies available for distribution, the number of applications received and government priorities. |
[Regulation 9 inserted by regulation 3 of Notice No. R. 311 dated 14 April 2015]
| (10) | An applicant to whom a small grant is made must, at such period as may have been imposed at the time when a grant is made submit to the National Lotteries Commission a report detailing how the grant funds were used, together with all supporting invoices and any other relevant documents for the purposes of financial accounting. |
[Regulation 10 inserted by regulation 3 of Notice No. R. 311 dated 14 April 2015]
| (11) | An applicant to whom a medium grant is made must, at such period as may have been imposed at the time when a grant is made, submit to the National Lotteries Commission an independently reviewed financial statement. |
[Regulation 11 inserted by regulation 3 of Notice No. R. 311 dated 14 April 2015]
| (12) | An applicant to whom a large grant is made must, at such period as may have been imposed at the time when a grant is made, submit to the National Lotteries Commission an audited financial statement in respect of the grant so awarded, provided that an applicant who has been awarded a grant amounting to not more than ten million rand (R10 000 000-00) is, subject to Regulation 13, only required to submit an independently reviewed financial statement. |
[Regulation 12 inserted by regulation 3 of Notice No. R.311 dated 14 April 2015]
| (13) | Irrespective of the amount of grant made to an applicant, if that applicant is already required to submit an audited financial statement in terms of any other law, the said applicant must submit to the National Lotteries Commission an audited financial statement. |
[Regulation 13 inserted by regulation 3 of Notice No. R. 311 dated 14 April 2015]
| (14) | No applicant to whom a grant was made by the National Lotteries Commission shall be eligible to apply for another grant within a period of twelve (12) months from the date of receipt of that grant, irrespective of whether the project is different from the one previously applied for. |
[Regulation 14 inserted by regulation 3 of Notice No. R. 311 dated 14 April 2015]
| (15) | Where an organisation submits an application for multi-year funding, the National Lotteries Commission in consultation with the Minister may, prior to approval of funds for a maximum period of three (3) years, consider the availability of funds and government priorities, subject to these Regulations. |
[Regulation 15 inserted by regulation 3 of Notice No. R. 311 dated 14 April 2015]
| (16) | Notwithstanding the provisions of these Regulations the National Lotteries Commission may at any time conduct a site visit in order to verify any information and operations of the organisation which has applied for or received a grant from the National Lotteries Commission. |
[Regulation 16 inserted by regulation 3 of Notice No. R. 311 dated 14 April 2015]
