Surplus funds of Commission to be appropriated to Fund 3. Any surplus of income over expenditure at the end of the Commission’s financial year shall be appropriated to the Fund. Accounts of Commission 4. (1) The Board shall ensure that proper accounts and other records relating to such accounts are kept in respect of all the Commission’s activities, funds and property, including such particular accounts and records as the Minister may direct. (2) Not later than three months after the end of each financial year of the Commission, the Commission shall prepare and submit to the Minister a statement of accounts in respect of that financial year or such other period as the Minister may direct. Audit of Commission’s accounts 5. (1) Subject to the Audit and Exchequer Act [Chapter 22:03], the Commission shall appoint as auditors one or more persons approved by the Minister who are registered as public auditors in terms of the Public Accountants and Auditors Act [Chapter 27:12]. (2) The accounts kept by the Commission in terms of subparagraph (1) of paragraph 4 shall be examined by the auditors appointed in terms of subparagraph (1). (3) The auditors appointed in terms of subparagraph (1) shall make a report to the Board and the Minister on the statement of accounts prepared in terms of subparagraph (2) of paragraph 4 and such report shall state whether or not in their opinion the statement of accounts gives a true and fair view of the Commission’s affairs. (4) In addition to the report referred to in subparagraph (3), the Minister may require the Board to obtain from its auditors appointed in terms of subparagraph (1) such other reports, statements or explanations in connection with the Commission’s operations, funds and property as the Minister may consider expedient, and the Board shall forthwith comply with any such requirement. Powers of auditors 6. (1) An auditor referred to in paragraph 5 shall be entitled at all reasonable times to require to be produced to him all accounts and other records relating to such accounts which are kept by the Commission or its agents and to require from any member of the Board or employee or agent of the Commission such information and explanations as in the auditor’s opinion are necessary for the purposes of his audit. (2) Any member of the Board or employee or agent of the Commission who fails without just cause to comply with a requirement of an auditor in terms of subparagraph (1) shall be guilty of an offence and liable to a fine not exceeding $1,000 or to imprisonment for a period not exceeding three months or to both such fine and such imprisonment. PART II MISCELLANEOUS PROVISIONS RELATING TO COMMISSION Execution of contracts and instruments by Commission 7. Any agreement, contract or instrument approved by the Board may be entered into or executed on behalf of the Commission by any persons generally or specially authorised by the Board for that purpose. Reports of Commission 8. (1) In addition to any report which the Authority is required to submit to the Minister in terms of this Act or the Audit and Exchequer Act [Chapter 22:03], the Commission— (a) shall submit to the Minister such other reports as the Minister may require; and (b) may submit to the Minister such other reports as the Commission considers advisable; in regard to the operations and property of the Commission. (2) The Minister shall, within six months of the end of the Commission’s financial year, lay before Parliament a report submitted to him by the Commission in terms of subparagraph (1), together with the statement of accounts and auditor’s report for the preceding financial year of the Commission referred to in paragraphs 4 and 5. Chief Executive and other employees of Commission 9. (1) For the better exercise of the functions of the Commission the Board may, in consultation with the Minister, appoint a person to be the Chief Executive of the Commission, on such terms and conditions as the Board, with the approval of the Minister, may fix. (2) The Board shall terminate the appointment of the Chief Executive if he would be required in terms of subparagraph (b) or (c) of paragraph 3 of the Fourth Schedule to vacate his office had that paragraph and subparagraphs (a), (b) and (c) of subparagraph (1) of paragraph 2 of the Fourth Schedule, and subparagraph (2) of that paragraph, applied to him. (3) The Board shall not terminate the services of the Chief Executive on a ground other than one referred to in subparagraph (2) without the approval of the Minister. (4) The Board shall employ such persons in addition to the Chief Executive as it considers expedient for the better exercise of the functions of the Commission. (5) Subject to the general control of the Board, the Chief Executive shall be responsible for— (a) managing the operations and property of the Commission; and (b) supervising and controlling the activities of the employees of the Commission in the course of their employment. - 26 -