Public Finance Management Act, 1999 (Act No. 1 of 1999)Chapter 3 : Provincial Treasuries and Provincial Revenue FundsPart 2 : Provincial Revenue Funds21. Control of Provincial Revenue Funds |
| (1) | The provincial treasury of a province is in charge of that province's Provincial Revenue Fund and must enforce compliance with the provisions of section 226 of the Constitution, namely that— |
| (a) | all money received by the provincial government must promptly be paid into the Fund, except money reasonably excluded by this Act or another Act of Parliament; and |
| (b) | no money may be withdrawn from the Fund except— |
| (i) | in terms of an appropriation by a provincial Act; or |
| (ii) | as a direct charge against the Fund when it is provided for in the Constitution or a provincial Act. |
| (2) | Money that must be paid into the Provincial Revenue Fund is paid into the Fund by depositing it into a bank account of the Fund in accordance with any requirements that may be prescribed. |
| (3) | A provincial treasury must establish appropriate and effective cash management and banking arrangements for its Provincial Revenue Fund in accordance with the framework that must be prescribed in terms of section 7. |