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South Africa Act or statute

Parliament of the Republic of South Africa

Eskom Debt Relief Act, 2023

This provision defines key terms and sets funding, loan, share-conversion, and reporting rules for Eskom. The provision sets Eskom funding amounts, requires National Treasury and the Minister to manage loan conversion…

debt conversiondelegation of authoritydelegations and authorisationsdividendsgovernment fundingloan conversionloansreportingstate funding
Jurisdiction
South Africa
Structure
7 provisions
Citation
Act 7 of 2023
Dates
updated 5 Jul 2023
More statute details
Dates
updated 5 Jul 2023

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01

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“This provision defines key terms and sets funding, loan, share-conversion, and reporting rules for Eskom.”

This provision defines key terms and sets funding, loan, share-conversion, and reporting rules for Eskom. The provision sets Eskom funding amounts, requires National Treasury and the Minister to manage loan conversion conditions and debt arrangements, and requires quarterly reporting to Parliament’s relevant committees. The Minister may delegate powers or authorise National Treasury employees to perform duties, but the delegation or authorisation must be in writing and may be limited or conditioned by the Minister. The Minister may authorize National Treasury officials to exercise delegated powers or perform assigned functions, but the authorization must be in writing and the Minister remains responsible. This section says the law is called the Eskom Electricity Act, 2023.

02

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No. 48915

The Minister may delegate powers or authorise National Treasury employees to perform duties, but the delegation or authorisation must be in writing and may be limited or conditioned by the Minister.

Section 4

This Act is called the Eskom Debt Relief Act, 2023.

The Minister may authorize National Treasury officials to exercise delegated powers or perform assigned functions, but the authorization must be in writing and the Minister remains responsible.

Section 4

No. 48915

6 No. 48915 GOVERNMENT GAZETTE, 7 July 2023 This gazette is also available free online at www.gpwonline.co.za STAATSKOERANT, 7 FEbRuARiE 2023 No. 48915 7 This gazette is also available free online at www.gpwonline.co.za

Section 6

No. 48915

This text is only a Gazette header and publication details; it does not state a substantive legal rule.

Section 8

04

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Source record from www.parliament.gov.za · updated 5 Jul 2023

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Showing 7 of 7 provisions

Provision 6Short title
§ 1In this Act, unless the context indicates otherwise—Provision

This provision defines key terms and sets funding, loan, share-conversion, and reporting rules for Eskom.

1. In this Act, unless the context indicates otherwise— ‘‘Eskom’’ means Eskom Holdings SOC Ltd; ‘‘Minister’’ means the Cabinet member responsible for finance; and ‘‘relevant Parliamentary Committees’’ means the Standing Committee on Appropria- tions of the National Assembly and the Select Committee on Appropriations of the National Council of Provinces. Direct charges for requirements of Eskom 2. (1) The following amounts for the requirements of Eskom are direct charges against the National Revenue Fund and attributed to the vote of the National Treasury: (a) R78 billion for the 2023/24 financial year; (b) R66 billion for the 2024/25 financial year; and (c) R40 billion for the 2025/26 financial year. (2) (a) The National Treasury must advance the amounts envisaged in subsection (1) as a loan to Eskom on the dates determined by the Minister. (b) The Minister must determine conditions for the conversion of a portion or portions of the amount of the loan for each financial year into ordinary shares issued by Eskom to the State. (c) When the Minister informs Eskom, in writing, that he or she is satisfied that Eskom has met the conditions for the conversion of any portion of the amount of the loan for a financial year, Eskom must issue ordinary shares to the State equal to the value of the portion of the amount. (d) The Minister and Eskom must, in writing, agree on— the implementation of paragraphs (a) to (c); and (i) (ii) other arrangements to give effect to subparagraph (i). (e) The National Treasury must, to the relevant Parliamentary Committees, report on compliance with the conditions and disclose the amounts of the conversion. in its next quarterly report (3) In addition to the amount envisaged in subsection (1)(c), for the 2025/26 financial year, R70 billion of the debt of Eskom is a direct charge against the National Revenue Fund through a debt takeover arrangement as determined by the Minister. 5 10 15 20 25 30 This gazette is also available free online at www.gpwonline.co.za umthetho Wezwelo lesikolodo se-Eskom, ka 2023 3 STAATSKOERANT, 7 July 2023 No. 48915 3 ino 07 ka 2023 (English text signed by the President) (Assented to 5 July 2023) UMTHETHO Ukuqalelela imbadalo yabunqopha esiKhwameni seNgeniso yeNarha malungana nezwelo lesikolodo sekhamphani i-Eskom Holdings SOC Ltd kanye nokuqalelela ezinye iindaba eziphathelene nalokhu. UMTHETHO UNGAPHASISWA yiPalamende yeRiphabliki yeSewula Afrika, ngendlela elandelako:— Ihlathululo
Section 1Verify source
§ 1Ngaphakathi komThetho lo, ngaphandle kwalapho ubujamo butshwayaProvision

The provision sets Eskom funding amounts, requires National Treasury and the Minister to manage loan conversion conditions and debt arrangements, and requires quarterly reporting to Parliament’s relevant committees.

1. Ngaphakathi komThetho lo, ngaphandle kwalapho ubujamo butshwaya okuhlukileko— ‘‘i-Eskom’’ kuhlathulula ikhamphani i-Eskom Holdings SOC Ltd; ‘‘uNgqongqotjhe’’ kuhlathulula ilunga leKhabhinethi elitjheje iindaba zeemali; begodu ‘‘iinKomidi zePalamende ezifaneleko’’ kuhlathulula iKomidi yasaFuthi yokwabiwa kweemali yesiBethamthetho seNarha kanye neKomidi eKhethekileko yoKwabiwa kweemali yomKhandlu weemFunda. 5 10 Iimbadalo zabunqopha zeemfuno ze-Eskom 2. (1) Amanani wemali alandelako la weemfuno ze-Eskom aziimbadalo zabunqopha esiKhwameni seNgeniso yeNarha begodu akhambisana nevowudi neZiko lezeeMali zeNarha: (a) (b) (c) Nemali ema-R40 billion yomnyakamali ka-2025/26. Imali ema-R78 billion yomnyakamali ka-2023/24; Imali ema-R66 billion yomnyakamali ka-2024/25; begodu (2) (a) IZiko lezeeMali zeNarha kufanele liragele phambili namanani wemali (1) njengemalimboleko ku-Eskom emalangeni abekwe ahlongozwe esigatjaneni nguNgqongqotjhe. (b) UNgqongqotjhe kufanele abeke imibandela yokutjhugululwa kwengcenye nofana lemalimboleko kwaqobe mnyakamali ngamunye zibe zizabelo iingcenye zenani ezijwayelekileko ezikhutjhelwa umBuso zikhutjhwa yi-Eskom. (c) Lokha uNgqongqotjhe azisa i-Eskom, ngomtlolo bonyana wanelisekile ngokuthi i-Eskom ilandele imibandela yokutjhugululwa kwananyana ngiyiphi ingcenye yenani lemalimboleko yomnyakamali, i-Eskom kufanele ikhuphe izabelo ezijwayelekileko eziya emBusweni nezilingana nenani lengcenye yemali. ekuphumeleliseni indima (a) ukufikela ku-(c); begodu (d) UNngqongqotjhe kanye ne-Eskom kufanele bavumelane ngomtlolo— (i) (ii) nangamanye amahlelo wokupha indinyana (i) amandla. (e) IZiko lezeeMali zeNarha kufanele libike ukuthotjelwa kwemibandela begodu liveze ngaphambili amanani wemali atjhugululwako, embikweni walo waqobe yikotara eenKomidini zePalamende ezifaneleko. (3) Ngaphezu kwenani lemali ehlongozwe esigatjaneni (1)(c), somnyakamali ka-2025/26, imali ema-R70 billion yesikolodo se-Eskom iyimbadalo yabunqopha esiKhwameni seNgeniso yeNarha ngokusebenzisa amahlelo wokuthathwa kwesikolodo njengokuqunta kukaNgqongqotjhe. 15 20 25 30 35 This gazette is also available free online at www.gpwonline.co.za
Section 1Verify source
§ 4No. 48915Short title

The Minister may delegate powers or authorise National Treasury employees to perform duties, but the delegation or authorisation must be in writing and may be limited or conditioned by the Minister.

4 No. 48915 GOVERNMENT GAZETTE, 7 July 2023 Act no. 7 of 2023 Eskom Debt Relief Act, 2023 4 Delegations and authorisations 3. (1) The Minister may— (a) delegate to an employee of the National Treasury any power conferred on the Minister in terms of this Act; and (b) authorise an employee of the National Treasury to perform any duty imposed 5 on the Minister in terms of this Act. (2) A delegation or authorisation in terms of subsection (1)— (a) must be in writing; (b) is subject to any limitations or conditions that the Minister may impose; (c) may authorise the employee contemplated in subsection (1) to sub-delegate, the delegated power or authorised duty to another suitable in writing, employee of the National Treasury; (d) does not divest the Minister of the responsibility concerning the exercise of the delegated power or the performance of the authorised duty; and (e) may be withdrawn by the Minister in writing. (3) The Minister may vary or revoke any decision taken by an employee as a result of a delegation or authorisation in terms of subsection (1), subject to any rights that may have vested as a result of the decision. Short title
Section 4Verify source
§ 4This Act is called the Eskom Debt Relief Act, 2023.Provision

The Minister may authorize National Treasury officials to exercise delegated powers or perform assigned functions, but the authorization must be in writing and the Minister remains responsible.

4. This Act is called the Eskom Debt Relief Act, 2023. 10 15 20 This gazette is also available free online at www.gpwonline.co.za umthetho Wezwelo lesikolodo se-Eskom, ka 2023 STAATSKOERANT, 7 July 2023 No. 48915 5 ino 07 ka 2023 5 Ukuphiwa amandla nokugunyazwa 3. (1) UNgqongqotjhe anga— (a) gunyaza isisebenzi seZiko lezeeMali zeNarha nanyana ngimaphi amandla aphiwe uNgqongqotjhe ngokomThetho lo; begodu (b) agunyaze isisebenzi seZiko lezeeMali zeNarha bona senze nanyana ngimuphi 5 umsebenzi onikelwe uNgqongqotjhe ngokomThetho lo. (2) Ukuphiwa amandla nofana ukugunyazwa ngokwesigatjana (1)— (a) kufanele kube ngomtlolo; (b) kube ngokulawulwa ngeminye neminye imikhawulo nofana imibandela enikelwe nguNgqongqotjhe; (c) kungagunyaza isisebenzi esihlathululwe esigatjaneni (1) bona sikwazi ukugunyaza ngomtlolo, esinye isisebenzi esifaneleko seZiko lezeeMali zeNarha ngamandla esiphiwe nofana umsebenzi esigunyazelwe wona; (d) akasusi isibopho sikaNgongqotjhe esiphathelene nokusebenzisa amandla aphiwe wona nofana sokwenza umsebenzi ogunyaziweko; begodu (e) kungarhoqiswa nguNgqongqotjhe ngomtlolo. (3) UNgqongqotjhe angahluka nofana asuse nanyana ngisiphi isiqunto esithethwe sisebenzi ngomphumela wokuphiwa amandla kanye nokugunyazwa ngokwesigatjana (1), ngokulawulwa nanyana ngimaphi amalungelo angaba nawo ngomphumela wesiqunto. 10 15 20 Isihloko esifitjhani
Section 4Verify source
§ 4UmThetho lo ubizwa ngomThetho weZwelo lesiKolodo se-Eskom, womnyakaProvision

This section says the law is called the Eskom Electricity Act, 2023.

4. UmThetho lo ubizwa ngomThetho weZwelo lesiKolodo se-Eskom, womnyaka ka-2023. This gazette is also available free online at www.gpwonline.co.za
Section 4Verify source
§ 6No. 48915Provision

6 No. 48915 GOVERNMENT GAZETTE, 7 July 2023 This gazette is also available free online at www.gpwonline.co.za STAATSKOERANT, 7 FEbRuARiE 2023 No. 48915 7 This gazette is also available free online at www.gpwonline.co.za

6 No. 48915 GOVERNMENT GAZETTE, 7 July 2023 This gazette is also available free online at www.gpwonline.co.za STAATSKOERANT, 7 FEbRuARiE 2023 No. 48915 7 This gazette is also available free online at www.gpwonline.co.za
Section 6Verify source
§ 8No. 48915Provision

This text is only a Gazette header and publication details; it does not state a substantive legal rule.

8 No. 48915 GOVERNMENT GAZETTE, 7 July 2023 This gazette is also available free online at www.gpwonline.co.zaPrinted by and obtainable from the Government Printer, Bosman Street, Private Bag X85, Pretoria, 0001Contact Centre Tel: 012-748 6200. eMail: info.egazette@gpw.gov.zaPublications: Tel: (012) 748 6053, 748 6061, 748 6065
Section 8Verify source

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  • National Treasury any power conferred on the Minister in terms of this Act

    Section 4

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