South Africa Act or statute

Parliament of the Republic of South Africa

Reconstruction and Development Programme Fund Act, 1994

Banking and financefinancial reportingfund administrationfund managementpublic finance

Jurisdiction: South Africa
Structure: 7 provisions
Citation: Act 7 of 1994
Dates: updated 13 Jul 1994

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Dates: updated 13 Jul 1994

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“Establishes the Reconstruction and Development Programme Fund.”

Establishes the Reconstruction and Development Programme Fund. This section establishes the Reconstruction and Development Programme Fund and sets out the money sources credited to it. The fund’s money must be used to finance identified reconstruction and development projects and programmes, and to cover costs incidental to administering the Act. The fund must keep a banking account with the South African Reserve Bank. Executive authorities that received money from the fund must return any unspent money to the fund at the end of each financial year.

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Establishment of Reconstruction and Development Programme Fund

Establishes the Reconstruction and Development Programme Fund.

Section 10

The money of the fund shall be utilised-

The fund’s money must be used to finance identified reconstruction and development projects and programmes, and to cover costs incidental to administering the Act.

Section 3

A banking account in the name of the fund shall be kept with the South

The fund must keep a banking account with the South African Reserve Bank.

Section 4

The accounts and balance sheet referred to in section 6(1) shall be audited

The accounts and balance sheet referred to in section 6(1) must be audited by the Auditor-General.

Section 7

This Act shall be called the Reconstruction and Development Programme

This section says the Act is called the Reconstruction and Development Programme Fund Act, 1994.

Section 9

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Source record from www.parliament.gov.za · updated 13 Jul 1994

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Showing 7 of 7 provisions

Provision 6Short title

§ 10Establishment of Reconstruction and Development Programme FundProvision

Establishes the Reconstruction and Development Programme Fund.

10 Establishment of Reconstruction and Development Programme Fund

Section 10Verify source

§ 2There is hereby established a fund to be known as the Reconstruction andProvision

This section establishes the Reconstruction and Development Programme Fund and sets out the money sources credited to it.

2. There is hereby established a fund to be known as the Reconstruction and 15 Development Programme Fund, which shall be credited with- .. (a) money appropriated by Parliament for the fund; .· · the fund; · interest derived from the investment of money standing to the crecllt ot (b) domestic and foreign grants; (c) · (d) the proceeds derived from the sale of state assets for the reconstruction and development projects and programmes referred to in section 3; and · 20 (e) money accruing to the fund from any other source. Utilisation of money of fund

Section 2Verify source

§ 3The money of the fund shall be utilised-Provision

The fund’s money must be used to finance identified reconstruction and development projects and programmes, and to cover costs incidental to administering the Act.

3. The money of the fund shall be utilised- ( a) to finance reconstruction and development projects and programmes identified by the Minister responsible for the co-ordinated implemen- tation thereof; and (b) for the defraying of costs incidental to the administration of this Act. 25 Banking account

Section 3Verify source

§ 4A banking account in the name of the fund shall be kept with the SouthProvision

The fund must keep a banking account with the South African Reserve Bank.

4. A banking account in the name of the fund shall be kept with the South African Reserve Bank- 30 (a) into which all money received for the benefit of the fund shall be deposited; and (b) from which transfers shall be made to the National Revenue Fund for the financing of the reconstruction and development projects and programmes referred to in section 3.

Section 4Verify source

§ 35Unspent moneyProvision

Executive authorities that received money from the fund must return any unspent money to the fund at the end of each financial year.

35 Unspent money S. The executive authorities at national and provincial level that had been allocated money from the fund, shall at the end of each financial year surrender unexpended money to the fund. GOVERNMENT GAZETIE, 13 IUL Y 1994 RECONSTRUCTION AND DEVELOPMENT PROGRAMME FUND ACf, 1994 No. 15848 5 Act No.7, 1994 Control and administration of fund 6. (1) The Director-General: Finance shall be the accounting officer of the fund and shall, subject to the directions of the Minister- ( a) control the fund; (b) cause a proper record of all the financial transactions, assets and 5 liabilities of the fund to be kept; and 10 (c) cause, as soon as possible after the end of each financial year, accounts of the revenue and expenditure of the fund for such year and a balance sheet of its assets and liabilities as at the end of that year, to be prepared. , (2) The fund shall be administered, subject to the provisions of the Exchequer Act, 1975 (Act No. 66 of 1975), by officials of the Department of Finance designated by the Director-General: Finance. Audit 15

Section 35Verify source

§ 7The accounts and balance sheet referred to in section 6(1) shall be auditedShort title

The accounts and balance sheet referred to in section 6(1) must be audited by the Auditor-General.

7. The accounts and balance sheet referred to in section 6(1) shall be audited by the Auditor-General. Investment of money not immediately required 8. (1) Any money of the fund which is not required for immediate use may be invested with the Public Investment Commissioners or with a financial institu- 20 tion approved by the Minister and may be withdrawn when required. (2) Any unexpended balance of the money of the fund at the end of. any financial year shall be carried forward as a credit of the fund to the next succeeding financial year. Short title . 25

Section 7Verify source

§ 9This Act shall be called the Reconstruction and Development ProgrammeProvision

This section says the Act is called the Reconstruction and Development Programme Fund Act, 1994.

9. This Act shall be called the Reconstruction and Development Programme Fund Act, 1994.

Section 9Verify source

Legislative relationships

1 referenced instrument

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A–F

1 instrument

Exchequer Act, 1975
Section 35

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