The Economic Regulation of Transport Act, 2024 (Act No. 6 of 2024)Chapter 4 : Establishment of InstitutionsPart C : Administrative matters concerning Regulator and Council51. Minister to determine annual fees to be paid by regulated entities |
(1) | Each year, the Regulator and the Council must prepare and submit to the Minister a joint proposal, in the prescribed manner and form, requesting the setting of an annual fee to be paid in the following financial year by each regulated entity under this Act, to give effect to the following principles: |
(a) | The regulated entities are to bear the cost of the Regulator and the Council; and |
(b) | there must be general proportionality between the cost of regulating each regulated entity, service or facility and the extent of its contribution to the shared revenue pool for the Regulator and the Council. |
(2) | The Minister must, in consultation with the Minister of Finance, determine and publish by notice in the Gazette— |
(a) | the annual fee to be paid by each regulated entity which may be different for different entities or categories of entities; |
(b) | a formula for sharing, between the Regulator and the Council, the revenue raised by those annual fees; and |
(c) | regulations establishing a framework for allocating and attributing the costs of the Regulator and Council among the regulated entities in a manner generally consistent with the principles set out in subsection (1). |
(3) | The formula for sharing the revenue raised from annual fees, to be determined in terms of subsection (2)(b), must ensure that the Regulator and Council each receive an adequate revenue flow, independent of each other, as appropriate to perform their functions and ensure their financial viability, having regard to any other source of funding contemplated in section 50(1). |
(4) | Any dispute arising out of or relating to the annual fees, the formula for sharing those fees or the remittance of the fees referred to in this section, must be referred to the Minister for resolution, in consultation with the Minister of Finance. |
(5) | At three month intervals, each regulated entity must remit to the Regulator one quarter of the annual fee payable by that entity, as determined by the Minister in terms of subsection (2). |
(6) | Within 30 business days after receiving a remittance in terms of subsection (5), the Regulator must— |
(a) | apportion the remittance between the Regulator and the Council in accordance with the allocation formula determined in terms of subsection (2); and |
(b) | remit the Council’s share to the Council. |