Public Finance Management Act, 1999 (Act No. 1 of 1999)Chapter 3 : Provincial Treasuries and Provincial Revenue FundsPart 2: Provincial Revenue Funds22. Deposits into Provincial Revenue Funds |
| (1) | All money received by a provincial government, including the province's equitable share, and grants made to it, in terms of the annual Division of Revenue Act, must be paid into the province's Provincial Revenue Fund, except money received by— |
| (a) | the provincial legislature in the province; |
| (b) | a provincial public entity in the province; |
| (c) | the provincial government from donor agencies which in terms of legislation or the agreement with the donor, must be paid to the Reconstruction and Development Programme Fund; |
| (d) | a provincial department in the province- |
| (i) | operating a trading entity, if the money is received in the ordinary course of operating the trading entity; |
| (ii) | in trust for a specific person or category of persons or for a specific purpose; |
| (iii) | from another department to render an agency service on behalf of that department; |
| (iv) | in terms of the annual Division of Revenue Act, if the money is exempted by that Act from Payment into the Revenue Fund; or |
| (v) | if the money is of a kind described in Schedule 4. |
| (2) | The exclusion in subsection (1)(b) does not apply to a provincial public entity in the province which is not listed in Schedule 3 but which, in terms of section 47, is required to be listed. |
| (3) | Draft legislation that excludes money from payment into a Provincial Revenue Fund may be introduced in Parliament only after the Minister has been consulted on the reasonableness of the exclusion and has consented to the exclusion. |
| (4) | Any legislation inconsistent with subsection (1) is of no force and effect to the extent of the inconsistency. |
| (5) | Money received by a provincial legislature or a provincial public entity listed in Schedule 3 must be paid into a bank account opened by the entity concerned. |