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Skills Development Act, 1998 (Act No. 97 of 1998)


Constitution of the Transport Education and Training Authority (TETA)

23. Finances of the TETA


23.1 TETA shall be financed from:


23.1.1 The levy transfers from its sector.


23.1.2 Monies paid to it from the National Skills Fund.


23.1.3 Grants, donations and bequests made to it, subject to TETA honouring the direction made by any donor, grantor etc. in respect of the specific use or purpose for which the money (or property) was intended.


23.1.4 Monies received from any other legal source.


23.1.5 Income earned from money invested.


23.1.6 Income earned from services rendered in those instances where the Minister has ruled that a fee or other charge may be recovered for the rendering of those services.


23.2 The funds received by TETA shall be managed as contemplated in Sections 14(2) and 14(3) of the Act. Monies managed by a Chamber shall be done so in accordance with the relevant legislation and procedures laid down by the TETA Board.


23.3 The books of account shall be audited annually by the office of the Auditor General as provided for by the Levies Act, and the PFMA.