Mandating Procedures of Provinces Act, 2008
R 385
Political Party Funding Act, 2018 (Act No. 6 of 2018)Chapter 4 : Duties of Political Parties13. Unspent money at end of financial year |
| (1) | Any money allocated from the Funds to a represented political party that is unspent at the end of the financial year must be shown as a credit balance carried forward to the next financial year in the— |
| (a) | account contemplated in section 12(1)(b); and |
| (b) | books and records of account contemplated in section 12(2)(c). |
| (2) | If Parliament or a provincial legislature is dissolved in terms of section 50 or section 109 of the Constitution respectively, or when the terms of these legislatures expire, a represented political party to whom money has been allocated from the Funds and that fails to obtain representation in any legislature in the next election must— |
| (a) | within 21 days after that election— |
| (i) | close its books and records in respect of those Funds; and |
| (ii) | repay to the Commission the unspent balance of the money allocated to that political party; and |
| (b) | within three months after that election submit an audited financial statement of the books and records contemplated in paragraph (a)(i) to the Commission. |
