Division of Revenue Act, 2011 (Act No. 6 of 2011)Chapter 3 : Conditional allocations to Provinces and MunicipalitiesPart 4 : Matters relating to Schedule 1 to 9 Allocations21. Payment schedule |
| 1) |
| a) | The National Treasury determines the payment schedule for the transfer of a province’s equitable share allocation, after consultation with the head of the department in the provincial treasury. |
| b) | In determining the payment schedule, the National Treasury must take account of the monthly spending commitments of provinces and seek to minimise risk and debt servicing costs for national and provincial government. |
| c) | Despite paragraph (a), the National Treasury may, for cash management purposes relating to the corporation for public deposits account or when an intervention in terms of section 100 of the Constitution is taking place, on such conditions as it may determine, advance funds to a province in respect of its equitable share or a portion of it which has not yet fallen due for transfer in accordance with the payment schedule. |
| d) | Any advances in terms of paragraph (c) must be offset against transfers to the province which would otherwise become due in terms of that payment schedule. |
| 2) |
| a) | The National Treasury determines the payment schedule for the transfer of a municipality’s equitable share allocation, after consultation with the accounting officer of the national department responsible for local government. |
| b) | Despite paragraph (a), the National Treasury, after consultation with the accounting officer of the national department responsible for local government, may, for cash management purposes in the municipality or when an intervention in terms of section 139 of the Constitution or section 137, 139 or 150 of the Municipal Finance Management Act is taking place, on such conditions as it may determine, approve a request or direct that the equitable share or a portion of the equitable share which has not yet fallen due for transfer in accordance with the payment schedule, be advanced to a municipality. |
| c) | Any advances in terms of paragraph (b) must be offset against transfers to the municipality which would otherwise become due in terms of the applicable payment schedule. |
| 3) |
| a) | The National Treasury must approve the payment schedule for the transfer of an allocation listed in Schedules 4 to 9 to a province or municipality. |
| b) | The transferring national officer of a Schedule 4, 5, 6 or 8 allocation must submit a payment schedule to the National Treasury for approval within 14 days after this Act takes effect. |
| c) | Prior to the submission of a payment schedule in terms of paragraph (b), the transferring national officer must— |
| i) | in relation to a Schedule 4 allocation, consult the relevant receiving officer; |
| ii) | in relation to the Gautrain Rapid Rail Link Grant, ensure that the payment schedule— |
| aa) | is consistent with the projected dates for payments to the private party in terms of the public-private partnership agreement entered into by the relevant province in accordance with regulations issued under the Public Finance Management Act; and |
| bb) | reflects the portion of any payments due under the agreement referred to in subparagraph (aa) payable from the allocation; and |
| iii) | in relation to a Schedule 5 or 6 allocation, consult the relevant province or municipality. |
| 4) | The transferring national officer of a Schedule 4, 5 or 6 allocation must provide the receiving officer with a copy of the approved payment schedule prior to making the first transfer in accordance therewith. |
| 5) | Schedule 4 and 6 transfers must be done in line with the municipal financial year. |