Skills Development Act, 1998 Sector Education and Training Authorities (SETAs) Grant Regulations Regarding Monies Received by a SETA and Related Matters
Ministry of Public Service and Administration, South Africa
This Act emphasizes that in order to transfer any funds in a Sector Education and Training Authorities (SETA)’s banking account to the National Skills Fund in terms of section 15(2)(d) of the Act, the Director-General may require the SETA concerned to identify any banking account operated by the SETA in terms of section 134(2) of the Act and a bank or other financial institution concerned to transfer, in accordance with 15(2)(d) of the Act, the funds in the account contemplated in sub-regulation (1) to a bank account opened and administered for that purpose by the National Skills Fund.
Process Flow
Skills Development Act, 1998 Sector Education and Training Authorities (SETAs) Grant Regulations Regarding Monies Received by a SETA and Related Matters Current Version
January 2022
This Act emphasizes that in order to transfer any funds in a Sector Education and Training Authorities (SETA)’s banking account to the National Skills Fund in terms of section 15(2)(d) of the Act, the Director-General may require the SETA concerned to identify any banking account operated by the SETA in terms of section 134(2) of the Act and a bank or other financial institution concerned to transfer, in accordance with 15(2)(d) of the Act, the funds in the account contemplated in sub-regulation (1) to a bank account opened and administered for that purpose by the National Skills Fund.
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