Funds of Council (1) The funds of the Council consist ofall annual fees, application fees, examination fees, registration fees, fees relating to investigations and any other fees payable to the Council in terms of this Act; donations or grants made for the benefit of the Council; the assistance contemplated in subsection (2); interest derived from investments made in terms of subsection (4); any fine paid to the Council in terms of section 41(1) (d); and all other moneys received or made available for the benefit of the Council. (2) The Minister may grant, subject to such conditions as he or she may determine and in consultation with the Minister responsible for Finance, to the Council from moneys appropriated by Parliament for such purpose, financial assistance to exercise its powers and perform its duties and functions. (3) The Council must use its funds for the purpose of defraying expenses incurred in connection with the exercise of its powers and the performance of its duties and functions. (4) The Council mayinvest any unexpended portion of its moneys; and establish such reserve funds and pay into such funds such moneys as it may consider necessary. (5) The Council must causefull and correct accounts to be kept of all moneys received or expended by it; an annual statement of its income and expenditure to be prepared in respect of every financial year, including a balance sheet reflecting its financial position as at the end of the financial year concerned; the annual statement and balance sheet referred to in paragraph (b) to be audited annually by a person registered as an accountant and auditor in terms of the Public Accountants' and Auditors' Act, 1951 (Act 51 of 1951); and a copy of the audited statement and balance sheet referred to in paragraph (c) to be submitted to every member of the Council; and to lie open at the registrar's office for inspection by any registered person. (6) (a) The Council must submit in each year, within a period of six months after the closing of the Council's financial year, to the Minister a report on its activities during such financial year, together with a copy of the audited statement and the balance sheet referred to in subsection (5) (c), in respect of the financial year concerned. (b) The Minister must table the report, audited statement and the balance sheet referred to in paragraph (a) in the National Assembly within a period of six months after the date of receiving such report and audited statement. (7) The financial year of the Council ends on the last day of March in each year.

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