Division of Revenue Act, 2016 (Act No. 3 of 2016)Chapter 2 : Equitable Share Allocations6. Shortfalls and excess revenue |
| (1) | If the actual revenue raised nationally in respect of the 2016/17 financial year falls short of the anticipated revenue set out in Column A of Schedule 1, the national government bears the shortfall. |
| (2) | If the actual revenue raised nationally in respect of the 2016/17 financial year exceeds the anticipated revenue set out in Column A of Schedule 1, the excess accrues to the national government, and may be used to reduce borrowing or pay debt as part of its share of revenue raised nationally. |
| (3) | A portion of national government’s equitable share or excess revenue envisaged in subsection (2), may be appropriated through the applicable legislation envisaged in section 12 of the Money Bills Amendment Procedure and Related Matters Act, 2009 (Act No. 9 of 2009), to make further allocations to— |
| (a) | national departments; or |
(b) provinces or municipalities.