14 GOVERNMENT GAZETTE, 3 DECEMBER 1997 No. 18489 Act No. 73, 1997 NATIONAL FILM AND VIDEO FOUNDATION ACT. 1997 financial year of the Foundation for any expenses in connection with the performance of its functions. (c) The Foundation shall utilise any donations or contributions contemplated in subsection (1)(c) in accordance with the conditions, if any. imposed by the donor or contributor concerned. (3) The Foundation may, in respect of any work completed or service rendered by it under this Act, charge such fees or make such other financial arrangements as it may deem fit. (4) The Foundation may invest any unexpended portion of its funds with the Corporation for Public Deposits. (5) The Foundation may establish such reserve funds and deposit therein such amounts as the Minister may approve, with the concurrence of the Minister of Finance. (6) (a) The Foundation shall in each financial year, at such time as the Minister may direct, submit a statement of the Foundation’s estimated inccme and expenditure during the following financial year, and the Foundation may also during the course of a financial year submit supplementary statements of the Foundation’s estimated expenditure for that financial year, to the Minister for approval, granted with the concurrence of the Minister of Finance. (b) The Foundation shall not incur any expenditure in excess of the total amount approved under paragraph (a). 5 10 15 Z() Audit, annual and financial report 17. (1) The Auditor-General shall audit the accounts and balance sheet of the Foundation. (2) The Foundation shall— (u) furnish to the Minister such information as he or she may call for in 25 connection with the activities and financial position of the Foundation; (b) submit to the Minister an annual report containing a balance sheet, a statement of income and expenditure certified by the Auditor-General and such other particulars as the Minister may require. (3) The Minister shall table the report referred to in subsection (2)(b) in Parliament 30 within 14 days after receipt thereof if Parliament is then in ordinary session or, if Parliament is not then in ordinary session, within 14 days after the commencement of its next ordinary session. Establishment and control of Funds 18. (1) There are hereby established two funds to be known as the Film and Video 35 Initiative and the Film Development Fund, respectively. (2) The funds shall consist of— (a) money appropriated by Parliament; and (b) any other money accruing to the Fund in question from any other source. (3) The purpose of the Film and Video Initiative is to provide funding for feature films 40 and video projects. (4) The purpose of the Film Development Fund is to provide funding for— (a) entry level producers and first time directors; (b) bursaries for study in film making; 45 (c) short and specialised film and video productions; and (d) script development. (5) The Funds shall be controlled and administered by the Foundation in accordance with the provisions of this Act. (6) The Council shall open separate accounts with a bank as defined in section 1 of the Banks Act, 1990 (Act No. 94 of 1990), in which the money of the respective Funds is to 50 be kept. Losses and damage 19. (1) If a person who is or was in the employment of the Foundation caused the Foundation loss or damage because he or she— ~a) failed to collect money due to the Foundation for the collection of which he or 55 she is or was responsible;