Division of Revenue Act, 2015 (Act No. 1 of 2015)Chapter 4 : Matters relating to all Allocations23. Payment schedule |
(1)
| (a) | The National Treasury must, after consultation with the accounting officer of the provincial treasury, determine the payment schedule for the transfer of a province’s equitable share allocation. |
| (b) | In determining the payment schedule, the National Treasury must take into account the monthly expenditure 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 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 terms of the payment schedule— |
| (i) | for cash management purposes relating to the corporation for public deposits account or when an intervention in terms of section 100 of the Constitution takes place; and |
| (ii) | on such conditions as it may determine. |
| (d) | Any advances in terms of paragraph (c) must be offset against transfers to the province which would otherwise become due in terms of the payment schedule. |
(2)
| (a) | The National Treasury must, after consultation with the accounting officer of the national department responsible for local government, determine the payment schedule for the transfer of a municipality’s equitable share allocation. |
| (b) | Despite paragraph (a), the National Treasury may 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 terms of the payment schedule, be advanced to a municipality— |
| (i) | after consultation with the accounting officer of the national department responsible for local government; |
| (ii) | for purposes of cash management in the municipality or an intervention in terms of section 139 of the Constitution or section 137, 139 or 150 of the Municipal Finance Management Act; and |
| (iii) | on such conditions as it may determine. |
| (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 payment schedule. |
(3)
| (a) | Subject to section 28(1), the National Treasury must, within 14 days after this Act takes effect, approve the payment schedule for the transfer of an allocation listed in Schedule 4 or 5 to a province or municipality. |
| (b) | The transferring officer of a Schedule 4 or 5 allocation must submit a payment schedule to the National Treasury for approval before the first transfer is made. |
| (c) | Before the submission of a payment schedule in terms of paragraph (b), the transferring officer must, in relation to a Schedule 4 or 5 allocation, consult the relevant receiving officer. |
| (4) | The transferring officer of a Schedule 4 or 5 allocation must provide the receiving officer and the relevant provincial treasury with a copy of the approved payment schedule before making the first transfer in terms thereof. |
| (5) | The transfer of a Schedule 4 or 5 allocation to a municipality must accord with the financial year of the municipality. |