Compensation for Occupational Injuries and Diseases Act, 1993 (Act No. 130 of 1993)Chapter III : Compensation Fund and Reserve Fund20. Accounts and audit |
| (1) | The Commissioner shall keep such accounts, including an account with a bank contemplated in the Banks Act, 1990 (Act No. 94 0f 1990), and the Public Finance Management Act, 1999 (Act No. 1 of 1999), and records as are necessary for the exercise of proper control over the Compensation Fund and the reserve fund, and shall prepare annual financial statements made up to the last day of the financial year, showing in all necessary detail the assets and liabilities and the revenue and expenditure of the funds. |
[Section 20(1) substituted by section 11(a) of the Compensation for Occupational Injuries and Diseases Amendment Act 10 of 2022, Notice No. 3294, GG48431 dated 17 April 2023 - effective 23 January 2026 per (a) of Proclamation Notice 306, GG53990 dated 23 January 2026]
| (2) | The accounts of the said funds shall be audited by the Auditor-General, and the cost of such audit shall be paid out of the compensation fund. |
| (3) | The Commissioner shall submit to the Minister, the annual financial statement together with the annual report and any other relevant documentation as provided for in section 55 of the Public Finance Management Act, 1999 (Act No. 1 of 1999). |
[Section 20(3) substituted by section 11(b) of the Compensation for Occupational Injuries and Diseases Amendment Act 10 of 2022, Notice No. 3294, GG48431 dated 17 April 2023 - effective 23 January 2026 per (a) of Proclamation Notice 306, GG53990 dated 23 January 2026]