Protection of Businesses Act, 1978
R 385
Road Traffic Management Corporation Act, 1999 (Act No. 20 of 1999)Chapter 3 : Funding24. Finance |
| (1) | The Corporation is funded from— |
| (a) | monies prescribed, subject to section 48(1)(b), which must include transaction fees charged by the Corporation for the sale of services; |
| (b) | penalties and fines payable to the Corporation as an issuing authority in terms of section 32 of the Administrative Adjudication of Road Traffic Offences Act, 1998 (Act No. 46 of 1998); |
| (c) | interest on invested cash balances; and |
| (d) | monies appropriated by Parliament. |
| (2) | The Corporation must, with the concurrence of the Minister of Finance and every MEC responsible for finance, ensure that all fines and penalties paid to the Corporation as an issuing authority in terms of the Administrative Adjudication of Road Traffic Offences Act, 1998, are utilised by the Corporation in respect of road traffic management. |
| (3) | At the end of each financial year the chief executive officer must report to the Shareholders Committee on any surplus funds of the Corporation, as may be determined by the Minister and every MEC with the concurrence of the Minister of Finance and every MEC responsible for finance in each province. |
| (4) | The Shareholders Committee may direct that payments be made from the surplus funds to a province, but such payments must be proportionate to the relative contribution to the profits generated through the provision of road traffic services in the province or received by an agent acting on behalf of the Corporation within the geographical area of the province. |
| (5) | The Corporation must open and maintain one or more accounts with a bank registered finally as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990), in which must be deposited the money received by the Corporation and from which payments for it or on its behalf must be made. |
