CAV Annual Report 2021

• Ensure transformation through the participation and development of B-BBEE entities • Skills Development and Training is part of the CAV’s support programmes. • Focused on the encouragement of new small and medium (SMME) sized entrants; and • Directed towards innovation, technology development and support for associated infrastructure development. 2.6.2. Location CAV is located along the eastern boundary of the Waterkloof Air force Base (FarmWaterkloof 378 JR; portion 11, 97, 98, 34, 29 and the remainder of portion 28) in Centurion. of good governance. In determining good corporate governance and business practices, the Board is guided by: • Companies Act, 71 of 2008 and supporting Regulations, • The Public Finance Management Act, No. 1 of 1999 (PFMA) and supporting Treasury Regulations; and • King IV report on corporate governance. 3.3. CAPITAL DEVELOPMENT The development planning, construction and operations of the CAV are conducted within the prescribed statutory prescripts provided by the relevant levels of government.

Both Landside and Airside developments are planned to be implemented in phases. Both developments are to be made possible by the application of sourced funding that would be supportive of the industrial policy of the dtic , and will accordingly be aligned with the following key elements thereof: • Plan, develop and operate the Landside Development Phase of the CAV as an Industrial Park: The CAV strives to balance the pursuit and achievement of business objectives and compliance with the principles of good governance. • Unlock the Airside Development Phase to be developed in collaboration with the South African Air Force (SAAF) and the Waterkloof Air force Base. 3. LEGISLATIVE MANDATE 3.1. INSTITUTIONAL ARRANGEMENTS CAV is a Non-Profit Company in terms of the new Companies Act, Act 71 of 2008. It applies the governance principles encapsulated in the King Report on Corporate Governance in South Africa, (“King IV”) and continues to further entrench the recommended practices in its governance structures, systems, processes and procedures. 3.2. CORPORATE GOVERNANCE The CAV strives to balance the pursuit and achievement of business objectives and compliance with the principles

CENTURION AEROSPACE VILLAGE NPC I ANNUAL REPORT I 2020/21

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