National Energy Act, 2008 (Act No. 34 of 2008)Chapter 4 : South African National Energy Development Institute14. Funding of South African National Energy Development Institute |
| 1) | The funds of the South African National Energy Development Institute consist of— |
| a) | money appropriated by Parliament; |
| b) | donations or contributions which the South African National Energy Development Institute may receive from any person, body, government or administration; and |
| c) | money received from any other appropriate source. |
| 2) | The South African National Energy Development Institute must utilise its funds for defraying expenses in connection with the performance of its functions. |
| 3) | The South African National Energy Development Institute must utilise its money in accordance with the statement of its estimated income and expenditure contemplated in subsection (4), as approved by the Minister. |
| 4) | The Board must in each financial year, as required by the Public Finance Management Act, submit a statement of the South African National Energy Development Institute's estimated income and expenditure during the following financial year to the Minister for his or her approval. |
| 5) | The Board may invest any unexpended portion of the South African National Energy Development Institute's funds with the Corporation for Public Deposits established in terms of section 2 of the Corporation for Public Deposits Act, 1984 (Act No. 46 of 1984) or, subject to the approval of the Minister with the concurrence of the Minister of Finance, dispose thereof in any other manner. |
| 6) | The Board may create surplus funds as envisaged by subsection (5) and deposit such funds as the Minister, acting with the concurrence of the Minister of Finance, may approve. |