National Radioactive Waste Disposal Institute Act, 2008 (Act No. 53 of 2008)Chapter 2 : National Radioactive Waste Disposal Institute21. Funds of Institute |
| 1) | The funds of the Institute consist of— |
| a) | money received from waste generators on a cost recovery basis for services rendered in terms of this Act; |
| b) | money appropriated by Parliament; |
| c) | money transferred to the Institute from the Radioactive Waste Management Fund that must be established by an Act of Parliament; |
| d) | money received for services rendered or derived from the sale or exploitation of its products, technology or other assets; |
| e) | income or interest earned on the Institute's cash balances or on money invested; |
| f) | loans raised by the Institute in accordance with the Public Finance Management Act; and |
| g) | donations or contributions received from any source by the Institute, with the approval of the Minister. |
| 2) | The Chief Executive Officer must— |
| a) | open an account in the name of the Institute 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). |
| 3) | The Chief Executive Officer may, on behalf of the Institute, invest any money received in terms of subsection (1), which is not required for immediate use— |
| a) | with the approval of the Minister and the board, with the Public Investment Commissioners referred to in section 2 of the Public Investment Corporation Act, 2004 (Act No. 23 of 2004); or |
| b) | with such other institution as the board and the Minister determine. |
| 4) | The Institute may not incur any expenditure in excess of budgetary provisions approved by the board. |
| 5) | The Auditor-General must audit the Institute on an annual basis. |
| 6) | Expenses for the establishment and initial operation of the Institute must be defrayed from money appropriated by Parliament to the Department. |