| (1) | The funds of the Mine Health and Safety Inspectorate consist of— |
| (a) | money appropriated by Parliament; |
| (b) | any donations made to the Mine Health and Safety Inspectorate; |
| (c) | revenue made on investments; and |
| (d) | money raised and received in terms of this Act. |
| (2) | The Mine Health and Safety Inspectorate must utilise its funds to defray expenses incurred by it in the performance of its functions. |
| (3) | The Chief Inspector of Mines must, after consultation with the Council, use the monies collected in terms of section 55B for the promotion of health and safety in the mining industry. |
| (4) | The Chief Inspector of Mines as the accounting authority of the Inspectorate must— |
| (a) | open a bank account in the name of the Mine Health and Safety Inspectorate with an institution registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990); and |
| (b) | deposit therein all money received in terms of subsection (1). |
| (5) | The Mine Health and Safety Inspectorate may invest any of its funds not immediately required— |
| (a) | subject to any investment policy that may be prescribed; and |
| (b) | in such a manner as may be approved by the Minister. |
| (6) | The Mine Health and Safety Inspectorate's financial year is from 1 April in any year to 31 March in the following year. |
| (7) | The report of the Chief Inspector of Mines referred to in section 49(1)(j) must reflect the financial affairs of the Mine Health and Safety Inspectorate. |
| (8) | Despite any other law, the Mine Health and Safety Inspectorate may not be placed under judicial management or in liquidation except if authorised by an Act of Parliament adopted especially for that purpose. |
[Section 49A inserted by section 15 of Notice No. 428, GG 32140, dated 17 April 2009 (Mine Health and Safety Amendment Act No. 74 of 2008)]
