Skills Development Act, 1998 (Act No. 97 of 1998)

Constitutions

Constitution of the Transport Education and Training Authority (TETA)

11. Role and Functions of the TETA Board
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The comprehensive roles and functions of the TETA Board are contained in Sections 50, 51, 52, 54, 55, 56 and 57 of the PFMA, the Companies Act as well as the Act, read in conjunction with the Board Charter.

 

11.1The primary purpose of the Board is to ensure that TETA fullfils its legal mandate, objectives and obligations in terms of this constitution, the Act, the Employment Equity Act 1998 (Act No. 55 of 1998), the PFMA and a variety of other applicable legislation. Accordingly, the Board must retain full and effective control over TETA, manage and monitor the performance of the entity and Chief Executive Officer. Ensure that decisions on material matters, risk management, systems and controls are in the hands of the Board. Representatives on the Board shall bring independent judgement to bear on issues of governance, strategy, structure, risk management, performance, resources and standards of conduct. The role will specifically include, but will not be limited to:

 

11.1.1Providing strategic leadership to TETA.

 

11.1.2Reviewing the performance of the Board and Board Committees against the approved charters.

 

11.1.3Ensuring the sound governance of TETA, including appropriate code of business ethics, risk management and fraud prevention.

 

11.1.4Approval of formal delegations of authority with limitations and conditions.

 

11.1.5Approval of levels of materiality.

 

11.1.6Compilation and approval of tolerance levels acceptable to the Board.

 

11.1.7Determining and approval of TETA strategies and policies.

 

11.1.8Measuring and monitoring the performance of TETA against its business strategies and plans.

 

11.1.9Appointing the Chief Executive Officer, in accordance with relevant employment legislation and the policies of TETA, and determining and reviewing the terms and conditions of employment.

 

11.1.10Managing the performance of the Chief Executive Officer' and TETA, in accordance with agreed performance output and outcomes.

 

11.1.11Ensure the preparation of financial statements for each financial year in accordance with Generally Accepted Accounting Practice (GAAP).

 

11.1.2Report on instances of material losses through criminal conduct, irregular expenditure, fruitless and wasteful expenditure and unauthorised expenditure.

 

11.1.3The effective financial and operational management of TETA including the approval of budgets and all capital expenditure, fund raising and income generation.

 

11.1.4Ensure that TETA complies with any tax, duty, pension, medical aid and audit commitments as required by legislation.

 

11.1.5Ensure the development, implementation and maintenance of proper records of the financial affairs of TETA.

 

11.1.6Promoting the objectives and interests of TETA.