Co-operative Banks Act, 2007 (Act No. 40 of 2007)

Chapter IX : Co-Operative Banks Development Agency

Part 4 : National government oversight and executive authority

71. Executive authority
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(1)The Minister is the executive authority for the Agency in terms of the Public Finance Management Act and the Agency is accountable to the Minister.

 

(2)The Minister must—
(a)ensure that the Agency complies with this Act, the Public Finance Management Act and any other applicable legislation;
(b)ensure that the Agency is managed responsibly and transparently and meets its contractual and other obligations;
(c)establish and maintain clear channels of communication between him or her and the Agency; and
(d)monitor and annually review the performance of the Agency.