Armaments Corporation of South Africa, Limited Act, 2003 (Act No. 51 of 2003)Chapter 1 : Armaments Corporation of South Africa, Limited and its Objectives and Functions3. Objectives of Corporation |
| (1) | The objectives of the Corporation are to meet— |
| (a) | the defence matériel requirements of the Department effectively, efficiently and economically; and |
| (b) | the defence technology, research, development, analysis, test and evaluation requirements of the Department effectively, efficiently and economically. |
| (2) | The Corporation must adhere to accepted corporate governance principles, best business practices and generally accepted accounting practices within a framework of established norms and standards that reflect fairness, equity, transparency, economy, efficiency, accountability and lawfulness. |