WE STRIVE TO BE GOOD CORPORATE CITIZENS. NOT JUST BY LAW, BUT BY DESIGN
Magalies Water adheres to the principles of good corporate governance which includes best practices and compliance with applicable legislation.
The mandate of Magalies Water is derived from Sections 29 and 30 of the Water Services Act (Act 108 of 1997). This implies that we are able to provide water services to Water Services Authorities (WSAs), Water Services Institutions (WSIs) and other commercial or industrial users.
WHO WE REPORT TO
We report to the Minister and the Department of Water and Sanitation (DWS) and have to continuously align ourselves to the latest policy positions of the department as well as the National Development Plan (NDP).
THE LAWS WE ABIDE BY
- Public Finance Management Amendment Act, No. 1 of 1999, as Schedule 3(B): National Government Business Enterprise.
- National Water Act, 1998 (Act 36 of 1998), which among other provides that the National Government is the public trustee of the nation’s water resources and acting through the Minister of Water and Sanitation – has the power to regulate the use, flow and control of all water in the country.
- Water Services Act (Act 108 of 1997), which provides for the establishment of Water Boards and defines the primary and secondary functions in terms of Section 29 and Section 30, respectively.
- The Regulations of the National Water Act, 1998 (Act 36 of 1998), which were published to ensure that South Africa’s water resources are protected, used, developed, conserved, managed and controlled in a sustainable and equitable manner for the benefit of all person.
HOW OUR FINANCES ARE RUN
It is the legal imperative of Magalies Water to ensure compliance with the provisions of the Public Finance Management Act, (Act 1 of 1999) (PFMA), as well as the Water Services Act (Act 108 of 1997). To this end, we have an internal audit function and our external audit is done annually by the Auditor-General of South Africa.
- Ultimately we at Magalies Water strive to go above and beyond mere compliance with the laws and regulations that apply to our environment.
- We are also committed to being a good responsible citizen – who integrates responsibility towards our stakeholders, our local communities and the environment – into our core business.