Central Energy Fund Amendment Act 29 of 1992

Central Energy Fund Amendment Act, 1992 (No. 29 of 1992)

GENERAL EXPLANATORY NOTE:
[ ] Words in bold type in square brackets indicate omissions from existing enactments.
__ Words underlined with a solid line indicate insertions in existing enactments.

Act

• to amend the Central Energy Fund Act, 1977, so as to provide
• that a second officer in the Department of Mineral and Energy Affairs be appointed to the board of directors of CEF (Proprietary) Limited;
• that a levy may be imposed on fuel as from a date preceding the date of the notice;
• that certain moneys obtained by CEF (Proprietary) Limited, and moneys obtained by agreement with the government of a foreign State, be paid into the Equalization Fund; and
• for the further utilization of moneys paid into the Equalization Fund; and
• to provide for matters connected therewith.

(Afrikaans text signed by the State President.)
(Assented to 16 March 1992.)

BE IT ENACTED by the State President and the Parliament of the Republic of South Africa, as follows:-

Amendment of section 1 of Act 38 of 1977, as substituted by section 1 of Act 46 of 1985 and amended by section 7 of Act 70 of 1987, section 1 of Act 55 of 1988, section 9 of Act 95 of 1991 and sections 3 and 4 of Act 124 of 1991

1. Section 1 of the Central Energy Fund Act, 1977, is hereby amended by the substitution for paragraph (b) of subsection ( 4) of the following paragraph:

"(b) [one officer] two officers in the Department of Mineral and Energy Affairs appointed by the Minister of Mineral and Energy Affairs, one of whom, in the opinion of the said Minister, possesses expert knowledge of crude oil supply and fuel matters; and".

Amendment of !lection 1A of Act 38 of 1977, as inserted by section 1 of Act 30 of 1979 and amended by section 2 of Act 74 of 1979, section I of Act 68 of 1980, section 2 of Act 73 of 1984, section 2 of Act 46 of 1985, section 2 of Act 55 of 1988, section 7 of Act 72 of 1989 and section 4 of Act 124 of 1991

2. Section lA of the Central Energy Fund Act, 1977, is hereby amended-

a) by the substitution for subsection (2) of the following subsection:

"(2) The notice shall state the amount of the levy, the date on which the levy becomes effective, which may be a date preceding the date of the notice, the interest payable in the event of the non-payment of the levy, the person who shall be liable for the payment thereof, the product referred to in subsection (1) in respect of which it shall be payable, the person who shall be responsible for the collection thereof and the times when and the manner in which it shall be paid to a person mentioned in the notice and be handed over by that person to the Fund in question.";

(b) by the substitution for paragraph (c) of subsection (3A) of the following paragraph:

"(c) the moneys obtained by CEF (Proprietary) Limited or the SFF Association from the sale of crude oil, petroleum products and products determined by the Minister of Mineral and Energy Affairs with the concurrence of the Minister of Finance.";

(c) by the addition to subsection (3A) of the following paragraph:

"(d) moneys received by agreement with the government of a foreign State on behalf of such State."; and

(d) by the addition of the following subsection:

"(5) Notwithstanding the revisions of subsection (4), moneys  referred to in subsection (3A)(c) paid into the Equalization Fund, shall, to the amount determined by the Minister of Mineral and Energy Affairs with the concurrence of the Minister of Finance, be paid into the State Revenue Fund.".

Short title and commencement

3. This Act shall be called the Central Energy Fund Amendment Act, 1992, and section 2 shall be deemed to have come into operation on 1 April 1991.