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how skills development is finnced
FINANCING SKILLS DEVELOPMENT 27. [ National Skills Fund.- (1) The National Skills Fund is hereby established. (2) The Fund must be credited with- a. 20 per cent of the skills development levies as contemplated in the Skills Development Levies Act; (Date of commencement of paragraph (a) to be proclaimed.) b. the skills development levies collected and transferred to the Fund, in terms of the Skills Development Levies Act, in respect of those sectors in which there are no SETAs; (Date of commencement of paragraph (b) to be proclaimed.) a. money appropriated by Parliament for the
Fund; b. interest earned on investments contemplated in section 29 (3); c. donations to the Fund; and d. money received from any other source. (Date of commencement of s. 27: 2 February, 1999.) 28. Use of money in Fund.- The money in the Fund may be used only for the projects identified in the national skills development strategy as national priorities or for such other projects related to the achievement of the purposes of this Act as the Director-General determines. (Date of commencement: 2 February, 1999.) ]
Expert answered|jher000|Points 7202|
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Asked 5/6/2012 12:46:38 PM
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