Act No. 4, 1999
BROADCASTING ACT, 1999
(5) The Corporation may with the approval of the Minister invest any surplus
funds of the Corporation.
(6) The surplus referred to in subsection (5) must at the end of a financial year,
be carried over to the next financial year and form part of the budget of the
Corporation for that financial year.
(7) Any dividends received by the State must be paid into the National Revenue
Fund.
Shareholding
19. …
[Section 19 repealed by Section 16 of Act No. 64 of 2002]
Financial year and annual financial statements
20. (1) Subject to the provisions of section 285 of the Companies Act, the financial
year of the Corporation commences on 1 April and ends on 31 March of the
following year.
(2) In addition to the annual financial statements to be drawn up in terms of the
Companies Act the Minister may direct the Corporation to draw up annual
statements in a form determined by him or her.
(3) The annual financial statements must be tabled by the Minister in the
National Assembly.
Rights and obligations
21. (1) The Corporation may not by virtue of the powers conferred upon it by this
Act do anything for which a licence is required in terms of the Electronic
Communications Act, unless it has obtained the licence in question and
complies with the conditions thereof.
[Subsection (1) amended by Section 97 of Act No. 36 of 2005]
(2) Notwithstanding anything to the contrary contained in the Electronic
Communications Act, or any other law, the Corporation is entitled, against
payment of the annual fees which the Authority may from time to time
determine, to be issued with a licence contemplated in subsection (1).
[Subsection (2) amended by Section 97 of Act No. 36 of 2005]
(3) The corporation must provide the Authority with all necessary and relevant
information for the purpose of monitoring compliance with the Charter.
Amendment of Broadcasting Licences
22. (1) The Corporation must, within six months of the date of commencement of
the Broadcasting Amendment Act, 2002, or the conversion date, whichever is
the later, apply to the Authority for such amendments to its existing licences as
are necessary in order to reflect the reorganisation of the Corporation into the
public service division and the commercial service division and its related
obligations in terms of this Act and the Electronic Communications Act.
(2) The relevant provisions of the Electronic Communications Act apply with
the necessary changes to the applications referred to in subsection (1) but,
irrespective of the contents of the application of the Corporation, the Authority