Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)Chapter 13 : Resolution of Financial ProblemsPart 2 : Provincial interventions143. Approval of financial recovery plans |
| (1) | On receipt of a financial recovery plan pursuant to a discretionary intervention referred to in section 137, the MEC for local government in the province may approve the recovery plan with or without amendments, as the MEC considers appropriate. |
| (2) | On receipt of a financial recovery plan pursuant to a mandatory intervention referred to in section 139, the MEC for finance must verify that the process set out in section 141 has been followed and that the criteria contained in section 142 are met, and— |
| (a) | if so, approve the recovery plan; or |
| (b) | if not, direct what defects must be rectified. |
| (3) | The responsible MEC must submit an approved recovery plan to— |
| (a) | the municipality; |
| (b) | the Minister and the Cabinet member responsible for local government; |
| (c) | the Auditor-General; and |
| (d) | organised local government in the province. |
