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Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)

Chapter 10 : Municipal Entities

Part 2 : Financial governance

86. Bank account details


(1) The accounting officer of a municipal entity must submit to the entity‘s parent municipality, in writing—
(a) within 90 days after the entity has opened a new bank account, the name of the bank where the account has been opened, and the type and number of the account; and
(b) annually before the start of a financial year, the name of each bank where the entity holds a bank account, and the type and number of each account.


(2) The accounting officer of the municipal entity’s parent municipality or, if there are more than one parent municipality, any one of the accounting officers of those municipalities as may be agreed between them, must upon receipt of the information referred to in subsection (1) , submit that information to the Auditor-General, the National Treasury and the relevant provincial treasury, in writing.