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 Allocations22. Amendment of payment schedule |
| 1) | Subject to subsection (2), a transferring national officer of a Schedule 4, 5 or 6 allocation must, within seven days of the withholding or stopping of an allocation in terms of section 16 or 17, amend a payment schedule as a result of the withholding or stopping of an allocation in terms of this Act and submit the amended payment schedule to the National Treasury prior to any further transfers being made. |
| 2) | The National Treasury may, in the interest of better debt and cash-flow management or to deal with financial mismanagement or financial misconduct, slow spending or accelerated spending, amend any payment schedule for an allocation listed in Schedules 2 to 6, on notification to— |
| a) | the accounting officer of a provincial treasury, in the case of a provincial allocation; and |
| b) | the accounting officer of the national department responsible for local government, in the case of a local government allocation. |
| 3) | A payment schedule amended in terms of subsection (1) or (2) must take account of— |
| a) | the monthly spending commitments of provinces or municipalities; |
| b) | the revenue at the disposal of provinces or municipalities; and |
| c) | the minimisation of risk and debt servicing costs for all three spheres of government. |
| 4) | An amendment of a payment schedule in terms of subsection (2) prevails over any amendment made in terms of subsection (1). |
| 5) | The transferring national officer must immediately inform the receiving officer of any amendment to a payment schedule in accordance with subsection (1) or (2). |