I have been furnished with a reply to the question submitted, by Ms Thabang Mampane, Commissioner of the National Lotteries Commission, which is set out below. I advise that it has been clarified by the NLC that the (1)(b) below refers to the NLC Senior Manager : Financial Accounting.
Reply by Commissioner Mampane:
“(1)(a) The NLC has an approved investment policy in compliance with Treasury Regulation 31.3.1. Investments are made in terms of the investment policy approved by the NLC Board.
(b) Investments are managed by the NLC.
(c) The performance of investments is monitored on a monthly basis.
(2)(a)(i) No investments have been written off. (ii) Not applicable
(b) Not applicable
(3) The National Lotteries Commission is a Public Finance Management Act, Act 1 of 1999, Schedule 3A entity. It does not receive funding from the fiscus. The investments support the organisation as follows –
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