| (1) |
The funds of the Agency consist of— |
| (a) |
money appropriated by Parliament; |
| (b) |
grants, donations and bequests made to the Agency; |
| (c) |
income gained through investment of monies; and |
| (d) |
money lawfully obtained or raised by the Agency from any other source. |
| (2) |
Any appropriation of funds contemplated in subsection (1)(a) must, prior to being distributed to the Agency, specify criteria for the use of funds and whether the funds are to be used by the Agency for financial or non-financial support services. |
| (3) |
The criteria contemplated in subsection (2) must— |
| (a) |
in the case of financial support services, in relation to any consequent loans made to small enterprises, specify— |
| (ii) |
categories of each sector; |
| (iii) |
applicable interest rates; |
| (v) |
acceptable impairment levels; and |
| (vi) |
any other relevant terms; and |
| (b) |
in the case of non-financial support services, include categories of recipients and the nature of the non-financial support to be provided. |
| (4) |
The procedures to be followed when granting or not granting financial or non-financial support by the Agency must allow for the review of that decision. |
| (5) |
The Agency must include in its reporting to the Minister prescribed information as to— |
| (a) |
the recipients of the financial and non-financial support services envisaged in subsection (3)(a) and (b); and |
| (b) |
the funds envisaged in subsection (1)(b) to (d). |
| (6) |
All monies received by the Agency must be deposited into a banking account in the name of the Agency with a bank established under the Banks Act, 1990 (Act No. 94 of 1990). |
[Section 15 substituted by section 4 of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
Protection of Businesses Act, 1978
