Skills Development Act, 1998 (Act No. 97 of 1998)

Constitutions

Constitution for the Construction Education and Training Authority (CETA)

19. Finance Committee

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19.1Composition

 

19.1.1Two employer members who shall be elected from and by the employer members serving on the CETA: Provided that one shall be elected from the emerging industry members;
19.1.2Two trade union members who shall be elected from and by the trade union members serving on the CETA;
19.1.3One government member who shall be nominated by the government departments concerned;
19.1.4The Chairperson of the CETA or his or her nominee;
19.1.5No more than two members co-opted by the CETA for their financial expertise;
19.1.6The Chief Executive Officer in an ex officio capacity;
91.1.7The Financial Manager or Accountant of the CETA in an ex officio capacity.

 

19.2Powers and Duties of the Finance Committee

 

The Finance Committee shall:

9.2.1Elect a Chairperson from its members;
9.2.2Oversee the compilation of, and review from time to time, the CETA financial management systems, policies and procedures;
9.2.3Approve and review the CETAs insurance portfolio;
9.2.4Determine, review and monitor internal auditing procedures;
9.2.5Determine rules for grant payments subject to the applicable regulations;
9.2.6Ensure the management of roll-over funds;
9.2.7Review and advise the CETA on the CETA's approach to financial investment, subject to applicable legislation and regulations;
9.2.8Review management accounts and financial statements; and
9.2.9Review and advise the CETA on its annual budget.