Medical Schemes Act, 1998 (Act No. 131 of 1998)Chapter 3 : Council for Medical SchemesPart 1 : Council12. Funds of Council |
| (1) | The funds of the Council shall consist of— |
| (a) | moneys appropriated by Parliament on such terms and conditions as the Minister, with the concurrence of the Minister of Finance, may determine; |
| (b) | fees raised on services rendered by the Registrar in the performance of his or her functions under the provisions of this Act; |
| (c) | penalties contemplated in section 66(3); and |
| (d) | interest on overdue fees and penalties in respect of services rendered by the Registrar. |
| (2) | The Council— |
| (a) | may accept moneys or other goods donated or bequeathed to the Council; and |
| (b) | shall specify details of any such donation or bequest in the annual report to the Minister. |
| (3) | The Council shall utilise its funds for the defrayal of expenses incurred by the Council and the office of the Registrar in the performance of their functions under this Act. |
| (4) | The Council shall cause an account to be opened with an institution registered as a bank and shall deposit in that account all moneys received in terms of this section. |
| (5) | The Council may invest money, which is deposited in terms of subsection (4) and which is not required for immediate use, in any manner as it may deem fit. |
| (6) | Any money which at the close of the Council's financial year stands to the credit of the Council shall be carried forward to the next financial year as a credit in the account of the Council. |