Public Finance Management Act, 1999 (Act No. 1 of 1999)Chapter 5 : Departments and Constitutional InstitutionsPart 2: Responsibilities of accounting officers43. Virement between main divisions within votes |
| (1) | An accounting officer for a department may utilise a saving in the amount appropriated under a main division within a vote towards the defrayment of excess expenditure under another main division within the same vote, unless the relevant treasury directs otherwise. |
| (2) | The amount of a saving under a main division of a vote that may be utilised in terms of subsection (1), may not exceed eight per cent of the amount appropriated under that main division. |
| (3) | An accounting officer must within seven days submit a report containing the prescribed particulars concerning the utilisation of a saving in terms of subsection (1), to the executive authority responsible for the department and to the relevant treasury. |
| (4) | This section does not authorise the utilisation of a saving in— |
| (a) | an amount specifically and exclusively appropriated for a purpose mentioned under a main division within a vote; |
| (b) | an amount appropriated for transfer to another institution; and |
| (c) | an amount appropriated for capital expenditure in order to defray current expenditure. |
| (5) | A utilisation of a saving in terms of subsection (1) is a direct charge against the relevant Revenue Fund provided that, in the case of a province, that province enacts such utilisation as a direct charge. |
| (6) | The National Treasury may by regulation or instruction in terms of section 76 regulate the application of this section. |