Public Finance Management Act, 1999 (Act No. 1 of 1999)

Chapter 7 : Executive Authorities

63. Financial responsibilities of executive authorities
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(1)
(a)Executive authorities of departments must perform their statutory functions within the limits of the funds authorised for the relevant vote.
(b)In performing their statutory functions executive authorities must consider the monthly reports submitted to them in terms of section 39(2)(b) and 40(4)(c).

 

(2)The executive authority responsible for a public entity under the ownership control of the national or a provincial executive must exercise that executive's ownership control powers to ensure that that public entity complies with this Act and the financial policies of that executive.