PARABAT VETERANS ORGANISATION (PVO) – GROUP BANKING ACCOUNTS

The PVO Group now has two current accounts and they will be utilised as follows:

                         PARABAT VETERANS ORGANISATION NPC

BUSINESS CURRENT ACCOUNT: PARABAT VETERANS ORGANISATION NPC
BANK: NEDBANK
BRANCH NAME: SOMERSET MALL
ACCOUNT NUMBER: 1131959035
BRANCH CODE: 11414500

The Parabat Veterans Organisation NPC, registration No: 2015/256965/08 is registered as a not-for-profit company (section 21 company).

This is the new NPC (Non-Profit Company) account and all donations and revenue directly earmarked for the enablement fund, projects (e.g.) Skillie Human project, Aapkas Project. Expenses related thereto will come from this account.

The NPC has applied for NPO, PBO and 18(A) certification (donations tax). The reason for this is that any funds collected or donated for the enablement fund or any approved non-profit project, will allow donors to benefit by deducting any donations from their tax payments.

Funds collected for the Enablement Fund will be used solely to for the Enablement fund projects which assists Parabats and their families who are in need.

To keep the incoming funds separate from the outgoing, and to ensure all is above board, the Enablement Fund will be governed within the NPC separately under an independent director and trustees, and audited annually.

Special projects undertaken by the PVO e.g. Aapkas restoration will also be handled under the NPC umbrella.

                         PARABAT VETERANS ORGANISATION SERVICES (PTY) LTD

BUSINESS CURRENT ACCOUNT: PARABAT VETERANS ORGANISATION SERVICES
BANK: NEDBANK
BRANCH NAME: SOMERSET MALL
ACCOUNT NUMBER: 1131958780
BRANCH CODE: 11414500

Parabat Veterans Organisation Services (Pty) Ltd, registration No: 2015/140291/07 will be the arm of the organisation that will generate sufficient profits to run the administration.

This account is our general business account for sales and purchasing of stock for our memorabilia etc. This account and company is where intend making a profit after deduction of all expenses.

Profits from the sale of Memorabilia, Apparel, the Business Forum and other enterprises will be channelled through this company, whose only shareholder is the Not for Profit Company. The net profit will be transferred to one of the above accounts where there could be a cash-flow shortage.

Trust this clarifies the procedures gentlemen. If you are unsure about a deposit please contact me before making the deposit.

Just a reminder, these accounts will be audited by our auditors AC Venter Ingelyf on a quarterly basis.