Financial Management of Parliament Act, 2009 (Act No. 10 of 2009)Chapter 4 : Cash Management and Investment25. Opening of bank accounts |
| (1) | The Accounting Officer, with the approval of the Executive Authority, and in accordance with the policy referred to in section 24, must open and maintain— |
| (a) | a bank account into which all money received by Parliament must promptly be paid; and |
| (b) | such other bank accounts as are necessary for the effective and efficient management of Parliament’s funds. |
| (2) | Parliament may not open a bank account— |
| (a) | abroad; |
| (b) | with an institution not registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990); or |
| (c) | otherwise than in the name of Parliament. |
| (3) | A bank account opened in terms of this section does not form part of the National Revenue Fund. |