The Economic Regulation of Transport Act, 2024 (Act No. 6 of 2024)Chapter 4 : Establishment of InstitutionsPart C : Administrative matters concerning Regulator and Council50. Finances |
| (a) | the annual fees to be paid by regulated entities, as determined by the Minister in terms of section 51; |
| (b) | money appropriated by Parliament; |
| (c) | any other fees payable in terms of this Act; |
| (d) | income derived from its investment and deposit of surplus money in terms of subsection (2)(b); and |
| (e) | other money accruing from any other source that does not create a conflict of interest. |
| (2) | The Regulator and Council— |
| (a) | must each prepare their own budgets and administer their own finances in accordance with the provisions of the Public Finance Management Act and other relevant legislation; and |
| (b) | may invest or deposit money that is not immediately required for contingencies or to meet current expenditures— |
| (i) | on a call or short-term fixed deposit with any registered bank or financial institution in the Republic; or |
| (ii) | in an investment account with the Corporation for Public Deposits established in terms of section 2 of the Corporation for Public Deposits Act, 1984 (Act No. 46 of 1984). |
| (3) | The financial year of the Regulator and the Council, respectively, is the period of 12 months beginning 1 April each year and ending on the following 31 March, except that the first financial year— |
| (a) | begins on the effective date; and |
| (b) | ends on the next following 31 March. |