The Private Security Industry Regulatory Authority (PSIRA) was established in terms of Section 2 of the Private Security Industry Regulation Act, No. 56 of 2001. It is mandated to regulate the private security industry in South Africa and to exercise effective control of security service providers in the public and national interest and the interest of the security industry itself. A Council is appointed by the Minister of Police in consultation with Cabinet and currently constitutes a full-time Chairperson and three additional Councillors, who are independent of the private security industry. The Council is tasked with the governance of the Authority, forms the accounting authority of PSIRA and is accountable to the Minister of Police in the performance of its functions. The Authority is listed as a public entity in Schedule 3A of the Public Finance Management Act (PFMA). As such, the Authority must adhere to the statutory duties and responsibilities as imposed by the PFMA. The Authority is funded through levies and fees recoverable from the security industry, in accordance with section 16 of the Act and currently receives no funds from the State.