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


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

4. Preamble


4.1 The Act was passed to provide an institutional framework to devise and implement national, sector and workplace strategies to develop and improve the skills of the South African workforce; to integrate those strategies within the National Qualifications Framework contemplated in the South African Qualifications Authority Act; to provide for learnerships that lead to recognised occupational qualifications; to provide for the financing of skills development by means of a levy-financing scheme and a National Skills Fund; to provide for and regulate employment services; and to provide for matters connected therewith.


4.2 In terms of Section 9 of the Act, the Minister may, in a prescribed manner, establish a discrete SETA with a constitution for any national economic sector by reference to categories of employers.


4.3 On the establishment of a SETA, the Minister may provide assistance to the SETA to enable it to perform its functions.


4.4 The national banking sector wishes to establish the Authority with a constitution as provided for herein.