BANKSETA AR 31 AUGUST

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2022

22.

RELATED PARTY TRANSACTIONS (CONTINUED)

22.8 South African Qualifications Authority (SAQA) The BANKSETA and SAQA are entities under the common control of DHET.

The BANKSETA needs to use SAQA data for learner certification and pays SAQA a nominal fee for this.

The year end balances (payable and/or receivables) and outstanding commitments to the SAQA are shown below.

2021/22

2020/21

Net payable/ receivable at year end

Net payable/ receivable at year end

Commitment

Commitment

Nature of transaction Service fee

R’000

R’000

R’000

R’000

Type of entity

-

SAQA

(1)

-

-

23. REMUNERATION OF MEMBERS OF THE ACCOUNTING AUTHORITY, COMMITTEE MEMBERS AND MANAGEMENT

23.1 Remuneration of members of the Accounting Authority and committee members The key management personnel (as defined by GRAP 20, Related Party Disclosures) of BANKSETA is: the members of the accounting authority and the members of the senior management group. The Accounting Authority consists of members appointed in terms of its constitution. The Chief Executive Officer attends meetings of the Accounting Authority but is not a member of the Accounting Authority. The aggregate remuneration of members of the Accounting Authority and the number of members receiving remuneration within this category are:

187

PART E: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2021/22