Republic of Namibia
15
Annotated Statutes
Namibian Broadcasting Act 9 of 1991
to such conditions as may be determined by him or her, which may include a
condition regarding the repayment of such moneys into the depreciation fund and
the period within which and the manner in which such moneys shall so be repaid;
(c)
repay any amount transferred under paragraph (b) from the general fund into the
depreciation fund.
Accounts
21. (1) The Corporation shall keep proper account of all moneys received or
expended by it and of all its assets, liabilities and financial transactions.
(2) The provisions of Chapter XI of, and of Schedule 4 to, the Companies Act, 1973
(Act 61 of 1973), except sections 285, 302, 306 and 310 and the provisions in connection with
offences, shall apply mutatis mutandis and subject to the provisions of subsection (3) of this
section, to the Corporation as if it were a public company with a share capital and as if a
corporate body established by the Corporation under section 4(1)(o) of this Act were a
subsidiary of which the Corporation is a holding company.
(3) For the purposes of subsection (2) any reference in the relevant provisions of the
Companies Act, 1973 (a)
to an obligation to lay annual financial statements and reports before an annual
general meeting of the company or to send it to members or holders of debentures
of a company or to the Registrar of Companies, shall be construed as a reference to
an obligation to lay such statements and reports before the Minister within 6
months after the end of each financial year of the Corporation or within such
further period as the Minister may allow, or to send it to the Minister, as the case
may be;
(b)
to the Registrar of Companies or a member of a company, shall be construed as a
reference to the Minister;
(c)
to the registered office of a company, shall be construed as a reference to the head
office of the Corporation;
(d)
to that Act, shall be construed as a reference to the relevant provisions thereof as
applied by this section;
(e)
in the case of section 284(3), to the territory of South West Africa, shall be
construed as a reference to Namibia, and section 226 of the Companies Act, 1973,
shall for the purposes of section 295 thereof as applied by this section, be deemed
to apply mutatis mutandis to the Corporation.
(4)
The financial year of the Corporation shall end on the last day of March in each
year.
[The Companies Act 61 of 1973 has been replaced by the Companies Act 28 of 2004.]
Auditing
22. (1) The Corporation shall cause its books and accounts to be audited by the
Auditor-General or any competent person employed in his or her office designated by the
Auditor-General for such purpose.