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National Small Business Act, 1996 (Act No. 102 of 1996)

Chapter 3: Small Enterprise Development Agency

15. Finances of Agency

 

1) The funds of the Agency consist of-
a) money appropriated by Parliament;
b) grants, donations and bequests made to the Agency;
c) money lawfully obtained by the Agency from any other source.

 

2) 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), or a mutual bank established under the Mutual Banks Act, 1993 (Act No. 124 of 1993).

 

3) The Board may, up to an amount approved from time to time by the Minister in consultation with the Minister of Finance, raise short-term loans at any time by way of overdrawing its account with a bank or otherwise, to meet any casual deficits that may arise.

 

4) The financial year of the Agency begins on 1 April and ends on 31 March of the following year.

 

5) The Chief Executive Officer is the accounting officer of the Agency.