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

1)The National Treasury must make regulations or issue instructions applicable to departments, concerning-

a)any matter that must be prescribed for departments in terms of this Act;

b)the recovery of losses and damages;

c)the handling of, and control over, trust money and property;

d)the rendering of free services;

e)the writing off of losses of state money or other state assets or amounts owed to the state;

f)liability for losses and damages and procedures for recovery;

g)the cancellation or variation of contracts to the detriment of the state;

h)the settlement of claims by or against the state;

i)the waiver of claims by the state;

j)the remission of money due to the Revenue Fund, refunds of revenue and payments from the Revenue Fund, as an act of grace;

k)the alienation, letting or other disposal of state assets; and

l)gifts or donations by or to the state.

2)The National Treasury may make regulations or issue instructions applicable to departments, concerning-

a)any matter that may be prescribed for departments in terms of this Act;

b)the charging of expenditure against particular votes;

c)the establishment of and control over trading entities;

d)the improvement and maintenance of immovable state assets;

e)fruitless and wasteful, unauthorised and irregular expenditure;

f)the determination of any scales of fees, other charges or rates relating to revenue accruing to, or expenditure from, a Revenue Fund;

g)the treatment of any specific expenditure;

h)vouchers or other proofs of receipts or payments, which are defective or have been lost or damaged;

i)assets which accrue to the state by operation of any law; or

j)any other matter that may facilitate the application of this Act.

3)Regulations in terms of subsection (1) or (2) may prescribe matters for which the prior approval of a treasury must be obtained.

4)The National Treasury may make regulations or issue instructions applicable to all institutions to which this Act applies concerning-

a)any matter that may be prescribed for all institutions in terms of this Act;

b)financial management and internal control;

c)the determination of a framework for an appropriate procurement and provisioning system which is fair, equitable, transparent, competitive and cost-effective;

d)audit committees, their appointment and their functioning;

e)internal audit components and their functioning;

f)the administration of this Act; and

g)any other matter that may facilitate the application of this Act.

5)A treasury regulation or instruction in terms of this section may-

a)differentiate between different categories of-

i)institutions to which this Act applies;

ii)accounting officers; or

iii)accounting authorities; or

b)be limited in its application to a specific category of-

i)institutions to which this Act applies;

ii)accounting officers; or

iii)accounting authorities.