Media Development and Diversity Agency Act, 2002 (Act No. 14 of 2002)15. Finances of Agency |
| 1) | Funds of the Agency consist of- |
| a) | money appropriated by Parliament; |
| b) | money received in terms of agreements contemplated in section 21; |
| c) | domestic and foreign grants: |
| d) | interest derived from any investments; or |
| e) | money lawfully accruing from any other source. |
| 2) | The money referred to in subsection (1) must be utilised to- |
| a) | fund projects and activities connected therewith, including project evaluation, feasibility studies, needs analyses, research and training; and |
| b) | defray expenses, including expenses regarding remuneration, allowances, pensions and other service benefits referred to in section 12(6), incurred by the Agency in the performance of its functions under this Act as long as such expenses do not exceed the prescribed percentage of the funds referred to in subsection (1). |
| 3) | The Auditor-General must audit the financial statements of the Agency. |