The Speaker:

The Speaker:

Letter dated 12 February 2003 from the Minister of Minerals and Energy to the Speaker, tabled in terms of section 65(2)(a) of the Public Finance Management Act, 1999 (Act No 1 of 1999), explaining the delay in the tabling of the Annual Financial Statements of the South African Diamond Board:

Dear Madam Speaker

Please be advised that the Annual Financial Statements of the South African Diamond Board for the year ending on 31 March 2002 were not submitted to the Department for tabling in Parliament in compliance with Section 40(1)(e) of the Public Finance Management Act, 1999 (Act No 1 of 1999) due to delays caused by structural changes such as:

1. The sudden resignation of the financial manager a month before the Financial Year End.

2. The absence of the financial accountant due to ill health from February to April 2002.

3. The suspension of the Chief Executive Officer.

As a result the Chairman of the Board requested for the extension of the Audit from 31 May 2002 to 31 July 2002, which led to the issuing of the Audit Report a month after the official due date of 31 August 2002. This letter, therefore, serves to request for the tabling of the Annual Financial Statements of the South African Diamond Board in Parliament without further delay.

Please accept my sincere apology for the delay and the inconvenience this may have caused.

Kind regards

Phumzile Mlambo-Ngcuka

MINISTER OF MINERALS AND ENERGY