Political Party Funding Act, 2018 (Act No. 6 of 2018)Chapter 2 : Funds2. Establishment of Political Representatives Fund |
[Section 2 heading substituted by section 4(a) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
| (1) | A Political Representatives Fund is hereby established for the purpose of enhancing multi-party democracy by providing for the funding of represented political parties and independent representatives. |
[Section 2(1) substituted by section 4(b) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
| (2) | The Commission must open an account for this Fund with any bank registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990). |
| (3) | The Commission must credit the account contemplated in subsection (2) with— |
| (a) | money appropriated by an Act of Parliament; |
| (b) | any money recovered in terms of section 17; and |
| (c) | interest earned on money invested in terms of section 4(1). |