Protection of Businesses Act, 1978
R 385
National Small Business Act, 1996 (Act No. 102 of 1996)Chapter 3A: Dispute Resolution Mechanism17Q. Accountability |
| (1) | Subject to the Public Finance Management Act, the director— |
| (a) | is charged with the responsibility of accounting for money received or paid out for or on account of the administration and functioning of the Office; and |
| (b) | must cause the necessary accounting and other related records to be kept. |
| (2) | The financial year of the Office is the period from 1 April to 31 March of the following year, except that the first financial year of the Office begins on the date on which this Chapter comes into operation, and ends on 31 March of the following year. |
| (3) | Within three months after the end of each financial year, the director must prepare financial statements in accordance with established account-ing practice, principles and procedures, comprising— |
| (a) | a statement, with suitable and sufficient particulars, reflecting the income and expenditure of the Office during the preceding financial year; and |
| (b) | a balance sheet showing the state of its assets, liabilities and financial position as at the end of that financial year. |
| (4) | The Auditor-General must, in accordance with the Public Audit Act, 2004 (Act No. 25 of 2004), ensure that the financial statements of the Office are audited each year. |
Section 17Q inserted by section 5 of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024]
