Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)Chapter 8 : Responsibilities of Municipal OfficialsPart 1 : Accounting officers61. Fiduciary responsibilities of accounting officers |
| (1) | The accounting officer of a municipality must— |
| (a) | act with fidelity, honesty, integrity and in the best interests of the municipality in managing its financial affairs; |
| (b) | disclose to the municipal council and the mayor all material facts which are available to the accounting officer or reasonably discoverable, and which in any way might influence the decisions or actions of the council or the mayor; and |
| (c) | seek, within the sphere of influence of the accounting officer, to prevent any prejudice to the financial interests of the municipality. |
| (2) | An accounting officer may not— |
| (a) | act in a way that is inconsistent with the duties assigned to accounting officers of municipalities in terms of this Act; or |
| (b) | use the position or privileges of, or confidential information obtained as, accounting officer for personal gain or to improperly benefit another person. |