Promotion of National Unity and Reconciliation Act, 1995 (Act No. 34 of 1995)

Chapter 7 : General Provisions

42. President's Fund
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(1)The President may, in such manner as he or she may deem fit, in consultation with the Minister and the Minister of Finance, establish a Fund into which shall be paid—
(a)all money appropriated by Parliament for the purposes of the Fund; and
(b)all money donated or contributed to the Fund or accruing to the Fund from any source.

 

(2)There shall be paid from the Fund all amounts payable to victims by way of reparation in terms of regulations made by the President.

 

(2A)There shall be paid from the Fund all amounts payable by way of reparations towards the rehabilitation of communities as prescribed.

[Subsection (2A) inserted by section 2 of Act No. 23 of 2003]

 

(2B)Any funds or property which, by a trust, donation or bequest vests or accrues in the Fund, shall be dealt with in accordance with the conditions of such trust, donation or bequest.

[Subsection (2B) inserted by section 2 of Act No. 23 of 2003]

 

(3)Any money of the Fund which is not required for immediate use may be invested with a financial institution approved by the Minister of Finance and may be withdrawn when required.

 

(4)Any unexpended balance of the money of the Fund at the end of a financial year, shall be carried forward as a credit to the Fund for the next financial year.

 

(5)The administrative work, including the receipt of money appropriated by Parliament for, or donated for the purposes of, the Fund or accruing to the Fund from any source, and the making of payments from the Fund in compliance with a recommendation in terms of this Act, shall be performed by officers in the Public Service designated by the Minister.

 

(6)The Minister shall appoint an officer designated under subsection (5) as accounting officer in respect of the Fund.

 

(7)The Auditor-General shall audit the Fund and all financial statements relating thereto, and the provisions of section 6 of the Auditor-General Act, 1989 (Act No. 52 of 1989), shall apply in respect of any such audit.