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Public Finance Management Act, 1999 (Act No. 1 of 1999)

Regulations

Regulations for Accounting Standards Board

14. Delegation of powers and duties

 

(1) When necessary for the proper performance of its functions, the Board may delegate any of its powers or duties to—
(a) the Chairperson or any other Board member;
(b) a committee referred to in regulation 13; or
(c) a staff member of the Board.

 

(2) A delegation in terms of subregulation (1) -
(a) is subject to any limitations, conditions or directions the Board may impose;
(b) must be in writing; and
(c) does not divest the Board of the responsibility concerning the exercise of the power or the performance of the duty.

 

(3) The Board may confirm, vary or revoke any decision taken in consequence of a delegation in terms of subregulation (1), subject to any rights that may have accrued to a person as a result of the decision.

 

 


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