Public procurement and disposal of State assets

Public procurement and disposal of State assets (1) A State organ, State institution and other public office shall procure goods or services, in accordance with a system that is fair, equitable, transparent, competitive and cost-effective, as prescribed. (2) A major State asset shall be sold, transferred or otherwise disposed of, as prescribed, subject to the approval of the National Assembly signified by a vote of at least two-thirds of the Members of Parliament. (3) For the purposes of this Article, “major State asset” includes a parastatal and equity held by the Government, as prescribed. [Article 210 added by section 8 of Act 2 of 2016]