| (b) | any donations or contributions received by the institution; |
| (c) | money raised by the institution; |
| (d) | money raised by means of loans and overdrafts; |
[Section 40(1)(d) amended by section 4 of Act No. 54 of 2000]
| (e) | income derived from investments; |
| (f) | money received for services rendered to any other institution or person; |
| (g) | money payable by students for higher education programmed provided by the institution, but the council may discriminate in a fair manner between students who are not citizens or permanent residents of the Republic and students who are citizens or permanent residents of the Republic when the amount payable is determined; |
[Section 40(1)(g) amended by section 5 of Act No. 55 of 1999]
| (h) | money received from students or employees of the institution for accommodation or other services provided by the institution; and |
| (i) | other receipts from whatever source. |
| (a) | Subject to paragraph (b), a public higher education institution may only, with a resolution of its council, not taking into account any vacancy that may exist, enter into a loan or an overdraft agreement. |
| (b) | A resolution contemplated in paragraph (a) must be approved by the Minister if the sum of the borrowing it authorises plus the borrowing previously approved but not yet taken up, plus the institution’s short-term and long-term debt at that date exceeds— |
| (i) | such amount as the Minister has determined for such institution; or |
| (ii) | in the absence of such determination, five per cent of the average annual income of the public higher education institution during the two years immediately preceding the date of such resolution. |
[Section 41(2)(b) substituted by section 9 of Act No. 63 of 2002]
[Section 41(2) inserted by section 4 of Act No. 54 of 2000]
| (a) | Subject to paragraph (b), a public higher education institution may only with a resolution of its council, not taking into account any vacancy that may exist, embark on any— |
| (i) | construction of a permanent building or other immovable infrastructural development; |
| (ii) | purchasing of immovable property; or |
| (iii) | long-term lease of immovable property. |
| (b) | Any action contemplated in paragraph (a) must be approved by the Minister if the value of such development or property exceeds five per cent of the average income of that public higher education institution received during the two years immediately preceding such action. |
[Section 41(3) inserted by section 4 of Act No. 54 of 2000]
