Consumer Protection Act, 2008 (Act No. 68 of 2008)NoticesSouth African Automotive Industry Code of ConductPart B : Alternative Dispute Resolution13. Funding the MIOSA |
The MIOSA:
| 13.1 | financial year will be from 1 March to 28 February. |
| 13.2 | is funded by the Automotive Industry in the manner as set out in Schedule 5. |
| 13.3 | will provide the Commissioner of the NCC with a written report on the progress made with the compilation of the database every 6 (six) months, the first report to be submitted within 6 (six) months of accreditation and every six months thereafter. |
| 13.4 | will be responsible to collect all contributions due and owing by the members of the Automotive Industry. |
| 13.5 | may put out to tender the compilation of the database of all members of the Automotive industry and the collection of funding contributions from those members, provided that it will only be entitled to do so if the related expenditure has been approved as part of the annual budget. |
| 13.6 | will invoice the members of the Automotive Industry monthly on or before the 7th (seventh) day of each month and the invoices are payable monthly in arrears on or before the 20th (twentieth) day of each month. |
| 13.7 | must deposit all funds in an account opened with a bank registered under the Banks Act, 1990 (Act No. 94 of 1990). |
| 13.8 | must utilise all funds received for the defrayal of expenses incurred in the performance of its duties and may invest funds which are not required for immediate use. |
| 13.9 | payments, excluding petty cash, must be made by way of cheques or Electronic Funds Transactions and/or debit orders drawn against the bank account of the MIOSA and must be signed in a manner decided on by the Board after consultation with the Ombud; provided that all cheques, bills and other negotiable instruments to be drawn on the MIOSA's bank accounts will at all times require the approval of 2 (two) of the directors of the MIOSA. |
| 13.10 | Funds standing to its credit at the end of the financial year, as well as funds invested, must be carried forward to the next financial year. |
| 13.11 | Will, through the Ombud, submit an annual budget to the Board on 1 November of each year which budget will include, without limitation, the budget for: |
| 13.11.1 | Awareness and as per clause 16.3; |
| 13.11.2 | remuneration of the staff, including directors; |
| 13.11.3 | operating capital in respect of normal business activities; |
| 13.11.4 | capital in respect of training for staff; |
| 13.11.5 | unforeseen contingencies; |
| 13.11.6 | marketing in order to promote the MIOSA. |
| 13.12 | Board must consider the proposed budget and furnish the MIOSA with an approved budget by 31 January of each year. |