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

The statutory measure shall be administered by the NLT. Approximately 70% of levy income will be spent on core activities (research and information functions), not more than 10% on administration and 20% on transformation (development of emerging farmers). The levies shall 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 the NLT. Annual audited financial statements will be submitted to the National Agricultural Marketing Council and the Auditor-General, with the percentage allocated towards transformation clearly indicated and accompanied by a report stating how the objectives of the levy have been met. Any deficit at the date of termination of this statutory measure shall be for the account of the NLT. The Minister shall decide on the application of any surplus levies at the date of termination of the statutory measure.