Marketing of Agricultural Products Act, 1996 (Act No. 47 of 1996)

Notices

Establishment of Statutory Measure and Determination of Guideline Prices : Levy relating to Cotton Lint

9. Conditions of approval

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This statutory measure is subject to the following conditions:

(a) That 70% of levy income be spent on research, information and other core functions, 20% on transformation (development of emerging farmers) and not more than 10% on administration;
(b) That levies be accounted for, in a manner and to the extent acceptable to the Auditor-General, separately from any other funds or assets under the control of Cotton SA, and audited by the Auditor-General; and
(c) That after the lapsing of the levy, any surplus funds be utilised subject to the approval of the Minister.