Road Accident Fund Act, 1996 (Act No. 56 of 1996)14. Financial control |
| (1) | The Fund shall keep proper records of all its financial transactions and its assets and liabilities. |
| (2) |
| (a) | The accounts of the Fund shall be audited annually by the Auditor-General appointed in terms of section 2 of the Auditor-General Act, 1989 (Act No. 52 of 1989), in accordance with the said Act and with such other laws as may be referred to in that Act. |
| (b) | The Auditor-General shall submit to the Board copies of any report referred to in section 6 of the Auditor-General Act, 1989. |
| (3) | The Financial Services Board established by section 2 of the Financial Services Board Act, 1990 (Act No. 97 of 1990), shall— |
| (a) | exercise financial supervision over the Fund in accordance with the Financial Supervision of the Road Accident Fund Act, 1993 (Act No. 8 of 1993), and with such other laws as may be referred to in that Act; |
| (b) | submit copies of any reports on the business of the Fund compiled by that Board in terms of the provisions of the Financial Supervision of the Road Accident Fund Act, 1993, to the Board of the Fund; and |
| (c) | consult with the Minister prior to the making of regulations under section 5 of the Financial Supervision of the Road Accident Fund Act, 1993. |