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Amended Skills Development Act
27. National Skills Fund
Skills Development Act (No. 97 of 1998 )
as amended by the
Amendment - Skills Development Act - 2003, and Proposed Amendments to SETA's June 2006
as amended by the
Amendment - Skills Development Act - 2003, and Proposed Amendments to SETA's June 2006
Chapter 7 : 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, interest and
penalties collected in respect of every SETA, as required by sections
8(3)(a) and 9(a) of the Skills Development Levies Act;
(b) the skills development levies, interest and penalties collected
by the Commissioner from employers which do not fall within the
jurisdiction of a SETA, as required by section 8(3)(c) of the Skills
Development Levies Act;
(c) money appropriated by Parliament for the Fund;
(d) interest earned on investments contemplated in section
29 (3);
(e) donations to the Fund; and
(f) money received from any other source.
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