Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
National Ports Act, 2005 (Act No. 12 of 2005)Chapter 5 : Ports Regulator43. Accounting and accountability |
| (1) | The Regulator must exercise its fiscal, accounting and reporting duties in accordance with the provisions of the PFMA. |
| (2) | The Regulator’s chief executive officer is the accounting officer of the Regulator and must— |
| (a) | open an account in the name of the Regulator with a financial institution and deposit therein all moneys received in terms of section 42(1); |
| (b) | cause proper records to be kept of all financial transactions, assets and |
| (c) | as soon as possible after the end of each financial year, cause to be prepared a statement of the income and expenditure of the Regulator for that financial year and a balance sheet of its assets and liabilities as at the end of that financial year. |
| (3) | The records, statement and balance sheet referred to in subsection (2) must be audited by the Auditor-General. |
| (4) | The financial year of the Regulator ends on 31 March in each year. |
| (5) | The Regulator must in each financial year, at a time determined by the Minister, submit a statement of its estimated income and expenditure for the following financial year to the Minister for his or her approval, granted with the concurrence of the Minister of Finance. |
