Electricity Amendment Act

2. The following section is hereby inserted in the principal Act, after section 2: : "Juristic personality of regulator 2A. ·The regulator shall be a juristic person.". Insertion of sections SA, SB, SC and SD in Act 41 of 1987

3. The following sections are hereby inserted in the principal Act after section 5: 20 4 No. 16727 Act No. 60, 1995 GOVERNMENT GAZETIE, 4 OCTOBER 1995 ELECTRICITY AMENDMENT ACT, 1995 "Appointment and functions of chief executive officer · SA. l The Minister shall a chief executive officer of the regulator. (2) The chief executive officer- oi~t a m~mber of the re ulator as ( a) shall be responsible for the management of- (i) the affairs of the regulator in accordance with the provisions of this Act and subject to the directions of the Minister and the regulator; and (ii) administrative control over the employees appointed under paragraph (b); (b) may, subject to paragraph (c) and on such conditions as the regulator may determine, appoint such employees as may be required to perform the work connected with the functions of the regulator; 5 10 ' ' ' ' . (c) shall pay such employees such remuneration, allowances, subsi- 15 - dies and other benefits as the regulator may determine in accordance with a remuneration structure approved from time to · time by the Minister with the concurrence of the Minister of . · Finance;· _ . . . . (d) may from time to time on such conditions as he or she may 20 · determine- · · (i) . provide collateral security, including guarantees, to a finan- cial institution in respect of a loan granted to any employee of the regulator by. such financial institution to enable such employee to acquire, improve or enlarge immovable prop- 25 erty for the purposes of occupation; and · ' · · - (ii) establish and manage or cause to be managed medical aid schemes and bursary schemes for purposes of study for such employees and their dependants. Funds of regulator 30 · SB. 1 The funds of the re ulator shall consist of- licence fees obtained undersubsection(2); (a) (b) donations or contributions received from any person, institution, government or administration; and . . interest on investments. , (c) . . .. . 35 . (2) The Minister may, on receipt of the business plan and statement referred to in subsection (5)(b), by notice in the Gazette prescribe licence fees that are payable bylicensed generators of electricity. (3) Licence fees referred to•in subsection (2) shall- · (q) only be imposed after- . . ·· . · . 40 (i) the amount and composition thereof and motivation there for, based on the business plan submitted in terms of subsection (5)(b), have been published for comment and any resulting comment has been considered; and (ii) the business plan and statement .referred to in subsection 45 (S)(b) have been approved; - - (b) be valid for the period specified in the notice referred to in . subsection (2); . . . . . • : . - ' ·. - (c) be payable in respect of the electricity, calculated in kilowatt hours, generated for supply by any licensee concerned during the 50 · previous calender year; · (d) be payable by such licensee at the times and in the instalments -determined by the regulator; and · · - (e) bear interest, in the case of non-payment or late payment, at such rate as the regulator may determine. · (4) (a) The regulator- . . . (i) shall utilise its funds to defray expenses in connection with 55 the performance of its functions; and . . .. ' . ; 6 No. 16727 Act No. 60, 1995 GOVERNMENT GAZETfE, 4 OCfOBER 1995 ELECfRICITY AMENDMENT ACf, 1995 ; ·' (ii) may,, with the approval of the Minister, granted with the concurrence of the Minister of Finance, establish and manage or cause to be managed a pension or provident fund or an alternative pension or provident fund for its employees. (b) Donations and contributions referred to in subsection (1)(b) shall- (i) only be accepted with the approval of the Minister, granted with the concurrence of the Minister of Finance; and (ii) , be utilised in accordance with the conditions determined by the donor or contributor concerned with such approval and concurrence.- · 5 10 (5) The regulator- : (a) .may, with. the approval of the Minister, granted with the concurrence .of the .Minister of Finance, authorise the chief . , · .. executive officer to invest any unspent portion ofthe funds ofthe regulator: Provided that any surplus at the end of a financial year 15 . shall be carried over to the next financial year and be utilised to defray expenses incurred by the regulator during that financial year;· (b) shall during each financial year, at such time as the Minister may determine, submit a business plan and statement of the regula- 20 tor's estimated income and expenditure during the following · financial year to the Minister for his or her approval, granted with -. the concurrence of the Minister of Finance; • . ' · . . (c) ·shall for the purposes ofthe Income Tax Act, 1962 (Act No. 58 of · 1962), be deemed to be an institution contemplated in section 25 10(1)(cA)(i) of that Act. · · Accounting and accountability _ SC. 1 The chief executive officer shall be the accountin officer of the regulator and shall- ( a) open an account in the name of the regulator with a financial 30 institution and shall deposit therein all moneys received in terms of section 5B(1); · (b) cause proper records to be kept of all financial transactions, assets ·and liabilities of the regulator; and (c) as soon as possible after the end of each financial year, cause to 35 be prepared a statement of the income and expenditure of the :regulator for that financial year and a balance sheet of its assets and liabilities as at the end of that financial year. (2). The records, statement and balance . sheet referred to in subsection (1) shall be audited by the Auditor-General. . 40 (3) The financial year of the regulator shall be the period ending on

31 March in each year. Reporting · · (a) furnish the Minister with such information and particulars as he 45 or she may from time to time require in connection with the · affairs and financial position of the regulator; and . (b) annually, within six months after the end of the financial year, submit to the Minister a report with regard to the functions, affairs and financial position of the regulator in respect of that 50 financial year; . (2) Without derogating from the generality of the provisions of subsection (1 )(b), the annual report referred to in that subsection shall inter alia include- (a) an audited balance sheet and statement of income and expendi- 55 ture, including any notes thereon and· documents annexed thereto whereby relevant information is provided; (b) particulars of any donations or contributions received under section 5B(1)(b); 8 No. 16727 GOVERNMENT GAZETTE, 4 OCTOBER 1995 Act No. 60, 1995 · ELECTRICITY AMENDMENT ACT, 1995 ·. (c) ·information regarding licences granted, renewed, amended, ·. transferred, ceded, suspended or withqrawn; (d) the report on the audit referred to in section 5C(2); · • . . ! (e) a report regarding the execution of the business plan of the regulator; . 5 (f) a report regarding the envisaged strategies of the regulator; and (g) such other information as the Minister may from time to time determine. (3) The annual report submitted in terms of subsection (1)(b) shall · be tabled in Parliament by the Minister within 14 days after receipt 10 thereof or, if Parliament is not then in session, within 14 days after the commencement of the next ensuing session.". . ·: Amendment or section 28 of Act 41 or 1987, as amended by section 10 of Act 46 or ' 1994 . - ' ' ; "'. ~.·· I i ,; '-· ': ~ I ~ . 1 · · · 4. Section 28 of the principal Act is hereby amended by the deletion of 15 paragraph (p) of subsection (1). : Short title < ' . . 5. This Act shall be called the Electricity Amendment Act, 1~95.