Land and Agricultural Development Bank Act, 2002 (Act No. 15 of 2002)Part III : Funds and Business of Bank22. Funds of Bank |
| (1) | The funds of the Bank consist of— |
| (a) | capital vested in the Bank; |
| (b) | funds derived from its operating activities; |
| (c) | interest earned on funds invested in terms of section 23; |
| (d) | such funds as may be appropriated by Parliament for use by the Bank; |
| (e) | proceeds of loans obtained by the Bank; |
| (f) | subject to subsections (2) and (3), monies received as donations or grants; and |
| (g) | moneys received on deposit. |
| (2) | The Bank may accept donations and grants to be used in carrying out its developmental mandate. |
| (3) | The Bank must utilise donations and grants in accordance with any conditions imposed by the donor concerned, but those conditions may not be inconsistent with the objects of the Bank as contained in this Act. |
| (4) | The Bank must utilise the funds referred to in subsection (1) to achieve the objects of the Bank as contained in this Act. |