Financial and Fiscal Commission Act, 1997 (Act No. 99 of 1997)

Part 1 : Status, functions and powers of Commission

4. Powers

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(1)The Commission is responsible for determining and overseeing the strategic direction and the operational policy of the Commission, and may do all that is necessary or expedient to perform its functions effectively, which includes the power to—

[Words preceding section 4(1)(a) substituted by section 3 of Act No. 4 of 2015]

(a)determine its own staff establishment and appoint employees in posts on the staff establishment;
(b)obtain the services of any person, including any organ of state or institution to perform any specific act or function;
(c)confer with any person or organ of state;
(d)acquire or dispose of any right in or to property, but ownership in immovable property may be acquired or disposed of only with the consent of the Minister;
(e)open, and operate on, its own bank accounts;
(f)insure itself against any loss, damage, risk or liability;
(g)perform legal acts, or institute or defend any legal action in its own name;
(h)do research and publish reports; and
(i)do anything that is incidental to the exercise of any of its powers.

 

(2)The Commission may not borrow money or overdraw its bank accounts.