Continuing Education and Training Act, 2006 (Act No. 16 of 2006)

Chapter 5 : Funding of Public Colleges

24. Funds of public colleges

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(1)The funds of a public college consist of—
(a)funds allocated by the State;
(b)any donations or contributions received by the public college;
(c)money raised by the public college;
(d)money raised by means of loans, subject to the approval of the Minister;

[Paragraph (d) substituted by section 16(a) of Act No. 3 of 2012]

(e)income derived from investments ;
(f)money received from services rendered;
(g)money payable by students for continuing education and training qualifications or part-qualifications provided by the public college;

[Paragraph (g) substituted by section 8 of Act No. 1 of 2013]

(h)money received from students or employees of the public college for accommodation or other services provided by the public college; and
(i)funds from any other source.

 

(2)A  public college  may not raise money by means of a loan or overdraft without the approval  of  the  Minister.

[Subsection (2) substituted by section 16(b) of Act No. 3 of 2012]

 

(3)If a person lends money or grants an overdraft to a public college without the approval of the Minister, the State and the college are not bound by the contract of lending money or an overdraft agreement.

[Subsection (3) substituted by section 16(c) of Act No. 3 of 2012]