Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)Chapter 3 : Municipal RevenuePart 1 : Municipal bank accounts12. Relief, charitable, trust or other funds |
| (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| (4) | Money in a separate account opened in terms of subsection (2) may be withdrawn from the account without appropriation in terms of an approved budget, but only— |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. |