Section 9: Special Funds

9. Special Funds (1) No proposal for the creation of a new Special Fund shall be made save in exceptional circumstances and with the prior approval of the Minister. (1A) Every Special Fund shall, if it is so provided, be administered in the manner specified in the enactment or the instrument creating it. (2) (a) Where there is no such provision in the enactment or instrument creating a Special Fund, the Minister may provide for its administration. (b) Except where such provision is contained in an enactment, the Minister may, if in his opinion further and better provision should be made for the administration of a Special Fund, provide for the better administration of the Fund. (3) (a) Subject to this section and to any other enactment, money standing to the credit of a Special Fund may, with the Minister’s approval, be invested with a bank, financial institution, fund, or in such securities, as may be approved by the Minister. (b) Any interest or dividend received in respect of a Special Fund shall accrue to the Fund. [S. 9 amended by Act 48 of 1991; Act 13 of 1996; s. 10 of Act 4 of 2008 w.e.f. 1 July 2008.] 10. — [S. 10 repealed by s. 11 of Act 4 of 2008 w.e.f. 1 July 2008.] 11. – 14. — [Ss. 11 to 14 repealed by s. 13 (d) of Act 17 of 2007 w.e.f. 1 July 2007.] 14A. — [S. 14A inserted by Act 15 of 1997; amended by Act 19 of 1999; repealed by s. 8 (a) of Act 23 of 2001 w.e.f. 1 July 2001.] PART III – AUDIT AND ACCOUNTS