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Financial Management of Parliament Act, 2009 (Act No. 10 of 2009)

Chapter 5 : Financial Management

35. Transfers

 

(1) Before transferring any funds from Parliament to any other entity, the Accounting Officer must—
(a) obtain a written assurance from the entity that it implements effective, efficient and transparent financial management and internal control systems; or
(b) render the transfer subject to conditions and remedial measures requiring the entity to establish and implement effective, efficient and transparent financial management and internal control systems.

 

(2)
(a) Subsection (1) does not apply to transfers to entities in other countries or to international institutions.
(b) Any transfer contemplated by sub-paragraph (a) is governed by the instrument regulating the relationship between South Africa and that entity or institution.