58
No. 23708
Act No. 25,2002
GOVERNMENT GAZETTE, 2 AUGUST 2002
ELECTRONIC
COMMUNICATIONS
AND
TRANSACTIONS ACT, 2002
(7) The Authority must respect and uphold the vested rights and interests of parties
that were actively involved in the management and administration of the .za domain
name space at the date ofits establishment: Provided that(a) such parties must be granted a period of six months during which they may
continue to operate in respect of their existing delegated sub-domains; and
(b) after the expiry of the six-month period, such parties must duly apply to be
licensed registrars and registries as provided for in this Part.
5
Part 4
Finances and reporting
Finances of Authority
10
66. (1) All money received by the Authority must be depositedin a banking account
in the name of the Authority with a bank established under the Banks Act, N1990
~ . (Act
94 of 19901, or a mutual bank established under the Mutual Banks Act, 1993 (Act
N ~ .
124 of 1993).
(2) The chief executive officer is the accounting officer of the Authority and must 15
ensure that(a) proper record of all the financial transactions, assets and liabilities
of the
Authority are kept; and
(6) as soon as possible, but not later than three months
after the end of a financial
year, accounts reflecting the income and expenditure of the Authority and a 20
balance sheet of the assets and liabilities
of the Authority as at the
end of that
financial year are prepared and submitted to the Board and Minister.
(3) The Authority is funded from(a) the capital invested in or lent to the Authority;
(6) money
appropriated
by Parliament
for
that purpose;
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(c) income derived from the sale or other commercial exploitation of
its licenses,
approvals, products, technology, servicesor expertise in terms of this Act;
(d) loans raised by the Authority;
( e ) the proceeds of any sale of assets;
(f) income or interestearnedontheAuthority’scashbalancesoronmoney
30
invested by it; and
(g) money received by way of grant, contribution, donation or inheritance from
any source inside or outside the Republic.
(4) The funds of the Authority mustbe utilisedto meet the expenditure incurred
by the
Authority in connection with its functioning, business and operations in terms of this 35
Act.
( 5 ) (a) The money may be so utilised only as provided for in a statement of the
Authority’s estimated income and expenditure, that has been approved by the Minister.
(b)Money received by way
of grant, contribution, donationor inheritance in termsof
subsection (3)(g), must be utilised in accordance with any conditions imposed by the
40
grantor, contributor, donor or testator-concerned.
(6) ( a ) The Board must in each financial year, at a time determinedby the Minister,
submit to the Minister for approval a statement of the Authority’s estimated income and
expenditure for the next financialyear.
(b) TheBoardmayat
any timeduring thecourse of afinancialyear,submita
45
supplementary statement of estimated income and expenditureof the Authority for that
financial year, to the Minister for approval.
(c) The Minister may grant the approval
of the statement referred to
in paragraph (a),
with the agreement of the Ministerof Finance.
(d) The Authority may not incuranyexpenditure in excess of thetotalamount
50
approved under paragraph (c).
(7) The Board may establish a reserve fund
for any purposethat is connected with the
Authority’s functions under this Act and has been approved by the Minster, and may
allocate to the reserve fund the money
that may be made available for the purposes
in the