- Is amended by Public Enterprises Governance Act, 2006
- Is commenced by Commencement of Environmental Investment Fund of Namibia Act, 2001
Environmental Investment Fund of Namibia Act, 2001
Act 13 of 2001
- Published in Government Gazette no. 2669 on 22 December 2001
- Assented to on 6 December 2001
- Commenced on 1 May 2005 by Government Notice of 2013
- [This is the version of this document from 1 November 2006 and includes any amendments published up to 6 October 2022.]
- [Amended by Public Enterprises Governance Act, 2006 (Act 2 of 2006) on 1 November 2006]
Part I – Preliminary provisions
1. DefinitionsIn this Act -“auditor” means the auditor of the Fund appointed in terms of section 24;“Board” means the Environmental Investment Fund of Namibia Board referred to in section 5;“Chief Executive Officer” means the Chief Executive Officer of the Fund appointed in terms of section 21;“Fund” means the Environmental Investment Fund of Namibia established by section 2;“Minister” means the Minister responsible for environmental affairs;“Ministry” means the Ministry responsible for the administration of environmental affairs; and“this Act”, includes any regulation made under section 26.
Part II – Environmental Investment Fund of Namibia
2. Establishment of Environmental Investment Fund of Namibia
3. Moneys of FundThe Fund consists of -
4. Objects of FundThe objects of the Fund are to procure moneys for the maintenance of an endowment fund that will generate income in perpetuity and to allocate such income to activities and projects aimed at promoting -
5. Management and administration of FundThe Fund is managed and administered by the Board to be known as the Environmental Investment Fund of Namibia Board.
6. Powers and functions of BoardThe powers and functions of the Board are to accountably, efficiently and properly manage and control the affairs and properties of the Fund and, for that purpose and in furtherance of the objects of the Fund -
7. Constitution of Board
8. Term of office of member of Board[section 8 deleted by Act 2 of 2006]
9. Vacation of office and filling of casual vacancies
10. Committees of Board
11. Technical Advisory Panel
12. Meetings and decisions of Board
13. Disclosure of interest
14. Payment of allowances to members of Board and committees
15. Banking account
16. Financial year, accounts and auditing
17. Annual report of Fund
18. Estimate of income and expenditureThe Board -
19. Exemption from payment of tax, duty and other chargesDespite anything to the contrary in any law -
20. Liquidation of FundThe Fund may not be liquidated except by or under the authority of an Act of Parliament.
Part III – Chief Executive Officer, staff of Fund and auditor
21. Chief Executive Officer
22. Delegation and assignment
23. Staff of FundThe Board may employ, upon such terms and conditions as to remuneration and otherwise as the Board may determine, such persons as the Board may consider necessary to perform the functions and conduct the affairs of the Fund.
Part IV – General
25. Allocation of moneysSubject to this Act, the Board may allocate moneys as contemplated in section 6(f), for -
27. IndemnityA member of the Board or committee of the Board or any person employed in terms of this Act is not personally liable for any damage or loss arising out of any act done in good faith under this Act unless such damage or loss is due to his or her wilful misconduct, dishonesty, gross negligence or failure to comply with any provision of this Act.
28. Short title and commencementThis Act is called the Environmental Investment Fund of Namibia Act, 2001, and comes into operation on a date to be determined by the Minister by notice in the Gazette.
History of this document
01 November 2006 this version
01 May 2005
22 December 2001
Published in Government Gazette number 2669
06 December 2001