National Energy Regulator Act, 2004 (Act No. 40 of 2004)Chapter II : National Energy Regulator13. Accounting by Energy Regulator |
| (1) | The Energy Regulator must perform its functions in accordance with the Finance Management Act, 1999 (Act No. 1 of 1999). |
| (2) | The Energy Regulator must keep separate accounts for the electricity, piped-gas and petroleum pipelines regulatory functions. |
| (3) |
| (a) | The costs of the Energy Regulator must be shared between the electricity, piped-gas and petroleum pipeline regulatory functions in proportion to the costs incurred by the Energy Regulator in respect of each of those regulatory functions. |
| (b) | Money appropriated by Parliament must be allocated to the separate accounts for the electricity, piped-gas and petroleum pipeline regulatory functions in proportion to the costs incurred by the Energy Regulator in respect of each of those functions unless Parliament determines otherwise. |
| (c) | Money received by the Energy Regulator other than money appropriated by Parliament must be paid into the account that is kept in terms of subsection (2) for the industry from which such money was received, and must be used for the sole benefit of that industry. |
| (4) | The Energy Regulator must open one or more accounts in its name with one or more financial institutions and deposit therein all money received from the sources contemplated in section 12. |
| (5) | The financial records of the Energy Regulator must be audited by the Auditor-General. |
| (6) | The financial year of the Energy Regulator starts on 1 April of one year and ends on 31 March of the following year. |