No. 2532
Government Gazette 17 May 2001
47
(c) shall invest the moneys of the Fund which is not required for
immediate use;
(d) shall keep or cause to be kept such accounting and related records
as are necessary to fairly represent the transactions and financial
position of the Fund;
(e) shall not later than three months after the end of each financial year
cause the accounting and related records of the Fund to be audited
by any person registered in terms of the Public Accountants’ and
Auditors Act, 1951 (Act No. 51 of 1951), as an accountant and
auditor, and appointed by the Board;
(f) shall within six months after the end of any financial year of the
Fund submit the auditor’s report as well as a report on the activities
of the Board and of any committee of the Board during that
financial year to the traditional authority concerned;
(g) may, on behalf of the Fund, sign any document relating to the Fund;
(h) (i)
(ii)
may subject to such conditions as the Board of Trustees may
determine, delegate or assign any of the Board’s powers or
duties to the secretary of the Board, an office-bearer elected
in terms of regulation 9(3) or a committee established under
regulation 11 and may withdraw or vary any delegation or
assignment, but shall not be \ divested of any power or duty
so delegated or assigned;
may vary or set aside any decision so taken by the secretary
of the Board, an office-bearer or any committee in the
exercise of any power so delegated to him or her or it;
(i) shall, generally, take such steps as are necessary for the attainment
of the purposes for which the Fund was established.
Committees of Board of Trustees
11. (1) A Board of Trustees may (a) from time to time establish any committee to assist or advise that
Board in the exercise of any of its powers or the performance of any
of its duties, and may, for such period as the Board may determine,
appoint such members of the Board or other persons thereon as it
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