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


Constitution of the Bank Sector Education and Training Authority (BANKSETA)

13. Powers of the Authority and Council


The Authority, through its Council  shall, subject to the provisions of the Act, have the Powers to act in pursuance of and in accordance with the objectives and functions of the Authority and shall possess and enjoy all rights and powers necessary for such purpose. Without limitation of the general powers and discretion granted by any of the provisions of this Constitution or the Act, the Authority shall have the following powers:


13.1 to appoint the Council and to regulate, control and terminate such appointment subject to the terms of the Constitution;


13.2 establish committees/chambers as is more specifically provided for in Sections 13 of the Act;


13.3 appoint a Management Committee and such other employees necessary for the effective running of the Authority and to determine their terms and conditions of appointment;


13.4 formulate the general policy of the Authority subject to the provisions of the Act;


13.5 approve the annual budget of the Authority;


13.6 approve the business plan of the Authority;


13.7 determine the scale of remuneration and other related matters for office bearers and other employees of the Authority;


13.8 make rules relating to Council meetings, financial matters, general procurement and administrative matters which are in accordance with the provisions of this Constitution, the Act or any other law;


13.9 to report on skills development within the banking sector;


13.10 to administer the funds accruing to the Authority in whatever manner it shall so decide, subject to the contents of this Constitution;


13.11 to open and operate any bank accounts at a bank or other financial institution, which the Council in its discretion decides, and draw, issue and receive cheques, promissory notes and/or bills of exchange and to endorse any of the same for collection by a bank and/or financial institution at which the said account was opened;


13.12 to purchase, hire or lease any premises, equipment or vehicles in the furtherance of its objectives and to improve, alter or maintain such premises, equipment or vehicles;


13.13 to institute, defend or settle actions and proceedings at law including arbitration and mediation proceedings by or against the Authority, which said actions and proceedings shall be instituted or defended in the name of the Authority;


13.14 to enter into contracts and agreements for the use and benefit of the Authority;


13.15 to engage the services of professional practitioners/consultants of whatsoever nature and tradesmen of whatsoever nature for the performance of work and rendering of services necessary or incidental to the Authority;


13.16 to appoint auditors and to fix their remuneration;


13.17 to collect and receive funds by way of grants from the State, Provincial Authorities and Local Authorities and to solicit, collect and receive monies by way of bequests, donations, grants, collections, commercial ventures or in any other manner from public and private bodies, from individuals and from the general public as provided for in the Act;


13.18 to do all such things as are incidental or conducive to the attainment of carrying out its functions and objectives;


13.19 to frame Regulations for the Authority in terms of, and to achieve the objectives as stated in this Constitution and the Act;


13.20 to delegate any of its powers to its members, chambers, committees and employees to enable it to achieve the objectives as stated in this Constitution and the Act;


13.21 to procure the resignation or recognition of the Authority in any country or place, including registration under the laws of South Africa;


13.22 the above powers are limited as follows:
13.22.1 the Authority shall use any funds acquired by it in terms of the Act and this constitution, solely in the furtherance of its aims and objectives and is prohibited from transferring any portion thereof directly or indirectly in any manner whatsoever so as to profit any person other than by way of payment in good faith of reasonable remuneration to any consultant, officer or employee of the Authority for any services actually rendered to the Authority, other than as provided for in the Act;
13.22.2 all transactions, of whatever nature, that may affect the distribution of funds of the Authority, shall be subject to the approval of the Council;
13.22.3 the Authority shall not have the power to carry on any business other than the business of the Authority as set out in the Act and elsewhere in this Constitution.