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

Constitutions

Constitution of the Clothing, Textile, Footwear and Leather Sector Education and Training Authority (CTFLSETA)

11. Financing the SETA
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11.1All employers covered by the scope of the SETA or admitted as a levy payer to the SETA, must pay a skills levy to the SETA in accordance with the provisions of the Skills Development Levies Act, 1999. The skills levies will be collected via the offices of the South African Revenue Services (SARS).

 

11.2The SETA will be financed from—
11.2.1eighty percent (80%) of the skills development levies, interest and penalties collected in respect of the SETA, as allocated in terms of sections 8(3)(b) and 9(6) of the Skills Development Levies Act;
11.2.2monies disbursed from the National Skills Fund;
11.2.3any grants, donations or bequests made to the SETA;
11.2.4monies received from any other source;
11.2.5income earned from invested surplus funds; and
11.2.6income earned from services rendered.

 

11.3Monies received by the SETA must be managed as contemplated in accordance with the provisions of sections 14(2), 14(3), 14(3A), 14(3B) 14(4) and 14(5) of the Act.

 

11.4The financial control procedures and financial administration must be undertaken in terms of the standards of generally accepted accounting practice. Account will be taken of relevant legislation that may be enacted, for example, the Public Finance Management Act as referred to in sub clause 1.6.11.

 

11.5The income of the SETA must be distributed proportionally, in terms of a formula developed by the Council, between the sub-sectors referred to in clause 3.5.

 

11.6Funds received by the SETA from an Industrial Training Board may only be used to fund the particular sub-sector that fell under the jurisdiction of that Training Board.