National Student Financial Aid Scheme Act, 1999 (Act No. 56 of 1999)Chapter 2A17A. Appointment of administrator |
| 1) | Notwithstanding any other provision of this Act, the Minister may, after consultation with the board if practicable, appoint a person as administrator to take over the management, governance and administration of the NSFAS and to perform the functions of the NSFAS if- |
| a) | an audit of the financial records of the NSFAS or a report by a Ministerial Committee reveals financial or other maladministration of a serious nature or the serious undermining of the effective functioning of the NSFAS; |
| b) | any other circumstances arise that reveals financial or other maladministration of a serious nature or the serious undermining of the effective functioning of the NSFAS; or |
| c) | the board requests such appointment. |
| 2) | The Minister may only act in terms of subsection (1)(a) or (b) if the appointment of an administrator is in the interests of the NSFAS and higher education and training in an open and democratic society. |
| 3) |
| a) | The Minister appoints an administrator for such period as may be determined by the Minister but such period may not exceed two years. |
| b) | The Minister may extend the period contemplated in paragraph (a) once for a period not exceeding six months. |