Acts Online
GT Shield

Public Finance Management Act, 1999 (Act No. 1 of 1999)

Chapter 3 : Provincial Treasuries and Provincial Revenue Funds

Part 2: Provincial Revenue Funds

24. Withdrawals and investments from Provincial Revenue Funds

 

(1) Only a provincial treasury may withdraw money from a Provincial Revenue Fund, and may do so only—
(a) to Provide funds that have been authorised—
(i) in terms of an appropriation by a provincial Act; or
(ii) as a direct charge against the Provincial Revenue Fund provided for in the Constitution or a provincial Act;
(b) to refund money incorrectly paid into, or which is not due to, the Provincial Revenue Fund; or
(c) to deposit into or invest money in the National Revenue Fund.

 

(2) A payment in terms of subsection (1) (b) or (c) is a direct charge against a Provincial Revenue Fund if a provincial Act so provides.

 

(3)
(a) A provincial treasury, in accordance with a prescribed framework, may invest temporarily in the Republic money in the province's Provincial Revenue Fund that is not immediately needed.
(b) When money in a Provincial Revenue Fund is invested, the investment, including interest earned, is regarded as part of that Fund.

 

 


500 - Internal Server Error
500 - Internal Server Error

We're sorry, but something went wrong displaying that page. While we work on fixing this, you can return to the home page.

Alternatively, email [email protected] for assistance.