Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)

Chapter 3 : Municipal Revenue

Part 1 : Municipal bank accounts

12. Relief, charitable, trust or other funds

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(1)No political structure or office-bearer of a municipality may set up a relief, charitable, trust or other fund of whatever description except in the name of the municipality. Only the municipal manager may be the accounting officer of any such fund.

 

(2)A municipality may in terms of section 7 open a separate bank account in the name of the municipality for the purpose of a relief, charitable, trust or other fund.

 

(3)Money received by the municipality for the purpose of a relief, charitable, trust or other fund must be paid into a bank account of the municipality, or if a separate bank account has been opened in terms of subsection (2), into that account.

 

(4)Money in a separate account opened in terms of subsection (2) may be withdrawn from the account without appropriation in terms of an approved budget, but only—
(a)by or on the written authority of the accounting officer acting in accordance with decisions of the municipal council: and
(b)for the purposes for which, and subject to any conditions on which, the fund was established or the money in the fund was donated.