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FASSET | Annual Integrated Report 2022/23

9. LEGISLATIVE AND OTHER MANDATES

As a public entity listed in Part A of Schedule 3 of • Public Audit Act 2004, Act 25 of 2004;
the PFMA, FASSET is established in accordance with • Public Finance Management Act 1999, Act 1 of
Section 9 of the SDA, having all the powers granted 1999; and
to it in terms of this Act. FASSET’s scope of coverage
is the Finance and Accounting Services sector as • Protection of Personal Information Act 2013, Act
determined by Section 9(2) of the SDA, read in 4 of 2013.
conjunction with Government Gazette No. 33756,
RG 9417, No R1055 of 11 November 2010. Policy mandates include the:
• White Paper for PSET (2014);
The SDA and SDLA provide the framework for
FASSET to develop and implement national, sectoral • The National Development Plan Vision 2030;
and workplace strategies to enhance the skills of and
the workforce, which improve employability and • National Skills Development Plan (NSDP) Twenty
productivity, and boost the competitiveness of the Thirty (NSDP 2030).
country.
Other documents include:
The PFMA promotes sound financial management
based on efficient and effective use of financial • Framework for Managing Performance
resources. The National Qualifications Framework Information; and
(NQF) Act 2008, Act 67 of 2008, provides for the • Framework for SPs and Annual Performance
regulation of qualifications and professional bodies, Plans (APPs).
and establishes the quality councils with which the
SETA interacts. FASSET also takes its cue from the • Guidelines on the Implementation of SETA Grant
SETA-standard Constitution, as well as important Regulations.
sector-specific transformative documents such as the
Financial Sector Charter.

FASSET supports the goals and objectives of
the Human Resources Development Strategy for
South Africa, and also the Medium-Term Strategic
Framework that indicates economic growth drivers,
and the NSDP 2030.

Additional legislation key to enhancing and shaping
FASSET’s activities include the following Acts
incorporating the amendments thereafter:
• Basic Conditions of Employment Act 1997,
Act 75 of 1997;

• Broad-Based Black Economic Empowerment
Act 2003, Act 53 of 2003;
• Division of Revenue Acts 2022, Act 5 of 2022,
as amended;
• Employment Equity Act 1998, Act 55 of 1998;
• Income Tax Act, Act 58 of 1962;
• Labour Relations Act 1995, Act 66 of 1995;

• National Qualifications Framework Act 2008,
Act 67 of 2008;
• Preferential Procurement Policy Framework
Act 2000, Act 5 of 2000;

Make the future count.
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