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


Constitution for the Construction Education and Training Authority (CETA)

19. Finance Committee


19.1 Composition


19.1.1 Two employer members who shall be elected from and by the employer members serving on the CETA: Provided that one shall be elected from the emerging industry members;
19.1.2 Two trade union members who shall be elected from and by the trade union members serving on the CETA;
19.1.3 One government member who shall be nominated by the government departments concerned;
19.1.4 The Chairperson of the CETA or his or her nominee;
19.1.5 No more than two members co-opted by the CETA for their financial expertise;
19.1.6 The Chief Executive Officer in an ex officio capacity;
91.1.7 The Financial Manager or Accountant of the CETA in an ex officio capacity.


19.2 Powers and Duties of the Finance Committee


The Finance Committee shall:

9.2.1 Elect a Chairperson from its members;
9.2.2 Oversee the compilation of, and review from time to time, the CETA financial management systems, policies and procedures;
9.2.3 Approve and review the CETAs insurance portfolio;
9.2.4 Determine, review and monitor internal auditing procedures;
9.2.5 Determine rules for grant payments subject to the applicable regulations;
9.2.6 Ensure the management of roll-over funds;
9.2.7 Review and advise the CETA on the CETA's approach to financial investment, subject to applicable legislation and regulations;
9.2.8 Review management accounts and financial statements; and
9.2.9 Review and advise the CETA on its annual budget.