The Fund is governed by a Board consisting of nominated representatives from the contributing companies. The Board meets every quarter and also holds an AGM at the beginning of each year. The Board provides policy framework and strategic direction, approves the budgets and decides on matters of key importance to the Fund. However the day to day business of the Fund is done at the sub-committee level who are responsible for implementation. There are three sub-committees, each representing one of the key disciplines, i.e.,
Each company contributing to the Fund in a certain discipline may elect a member to the relevant sub-committee. Sub-committees also meet quarterly and are responsible for annual budgets and oversight visits to the university departments which they support. Sub-committees Chairs report into the Board whose meetings they attend.
The Board has agreed to apportion the budget to correlate with the number of graduates/diplomates employed in the three disciplines, in each company. Participating companies provide support towards the disciplines in which they actually have employees. For example, their contribution augments academic salaries in the particular discipline proportionate to the number of graduates/diplomates they have in that discipline.
All donations to the Fund are acknowledged by way of an 18A Certificate
