Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter IX : Co-Operative Banks Development AgencyPart 4 : National government oversight and executive authority71. Executive authority |
(1) | The Minister is the executive authority for the Agency in terms of the Public Finance Management Act and the Agency is accountable to the Minister. |
(2) | The Minister must— |
(a) | ensure that the Agency complies with this Act, the Public Finance Management Act and any other applicable legislation; |
(b) | ensure that the Agency is managed responsibly and transparently and meets its contractual and other obligations; |
(c) | establish and maintain clear channels of communication between him or her and the Agency; and |
(d) | monitor and annually review the performance of the Agency. |