Budget Implementation Act, 1998

Marginal note:Books of account

• 35 (1) The Board shall cause books of account and other records to be kept and shall establish financial and management controls, information systems and management practices that will ensure that the business and affairs of the Foundation are carried on, and the financial, human and physical resources of the Foundation are managed, effectively, efficiently and economically.

• Marginal note:Information systems

  (2) The books of account and other records of the Foundation shall be maintained in such a way that they will show that the assets of the Foundation are properly protected and controlled and that its business and affairs are carried on in compliance with this Part, and in particular, in such a way that they will show

  • (a) the description and book value of every investment of the Foundation; and

  • (b) the names of persons who have received, or are about to receive, scholarships and the amount of the scholarships.