5 State Owned Entities The Minister of Energy has oversight responsibilities over 5 State Owned Entities (SOE) and their subsidiaries which are either classified as schedule 2 or 3 in the PFMA. They are the National Energy Regulator (NERSA), National Nuclear Regulation (NNR), Nuclear Energy Corporation of South Africa (NECSA), Central Energy Fund Group (CEF) and the Electricity Distribution Industry Holdings (EDI). The enabling legislation requires the Minister to appoint members of the boards of all state owned entities reporting to the Minister of Energy. All board members, with the exclusion of CEOs, are non-executive. The Department is represented on all of these boards, with the exception of NERSA. Boards are ultimately accountable and responsible for the performance of the entities. They give strategic directions to the entity in line with the mandate and this is in turn implemented by management.