Finance Act

Link to law: http://www.gov.za/documents/finance-act-7
Published: 2012-03-27

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Finance Act 2 of 2012
Please note that most Acts are published in English and another South African official language. Currently we only have capacity to publish the English versions.
This means that this document will only contain even numbered pages as the other language is printed on uneven numbered pages.


Government Gazette
REPUBLIC OF SOUTH AFRICA

Vol. 561 Cape Town 27 March 2012 No. 35185
THE PRESIDENCY No. 254 27 March 2012
It is hereby notified that the President has assented to the following Act, which is hereby published for general information:–
No. 2 of 2012: Finance Act, 2012.

2 No. 35185 GOVERNMENT GAZETTE, 27 MARCH 2011
Act No.2 of2012 Finance Act, 2012
(English text signed by the President) (Assented to 27 March 2012)
ACT To approve unauthorised expenditure; and! to provide for matters connected therewith.
ARRANGEMENT OF SECTIONS
Sections
I. Interpretation 2. Approval of unauthorised expenditure 3. Recovery of unauthorised expenditure 4. Short title
Schedule 1
Unauthorised expenditure referred to in section 34(l)(a) of the Public Finance Management Act, 1999
Schedule 2
Unauthorised expenditure referred to in section 34(l)(b) of the Public Finance Management Act, 1999
Schedule 3
Unauthorised expenditure referred to in section 34(2) of the Public Finance Management Act, 1999
BE IT ENACTED by the Parliament of the Republic of South Africa, as follows:- Interpretation
1. In this Act, unless the context indicates otherwise, a word or expression to which a meaning has been assigned in the Public Finance Management Act, 1999 (Act No. 1 5 of 1999), has the meaning assigned to it in that Act.
Approval of unauthorised expenditure
2. (a) The unauthorised expenditure referred to in Schedule 1 in the amount of R40 292 419.92, and described in the report of the National Assembly's Committee on Public Accounts identified in the second column of the Schedule, is authorised as an lO additional charge against the National Revenue Fund in terms of section 34(l)(a) of the Public Finance Management Act, 1999 (Act No. I of 1999).
(b) The unauthorised expenditure referred to in Schedule 2 in the amount of R20 625 352.33, and described in the report of the National Assembly's Committee on Public Accounts identified in the second column of the Schedule, is authorised and 15
4 No. 35185 GOVERNMENT GAZETTE. 27 MARCH 2011
Act No.2 of2012 Finan~ Act, 2012
previously surrendered funds are reallocated to the vote in terms of section 34(1)(b) of the Public Finance Management Act, 1999 (Act No. 1 of 1999).
(c) The unauthorised expenditure referred to in Schedule 3 in the amount of R483 821 478.78, and described in the report of the National Assembly's Committee on Public Accounts identified in the second column of the Schedule, is authorised as a · 5 charge against the budget allocations of the Department of Correctional Services, in terms of section 34{2) of the Public Finance Management Act, 1999 {Act No. 1 of 1999). and must be effected prior to 1 April 2015.
Recovery of unauthorised expenditure
3. This Act does not detract from or limit any right or obligation to take appropriate 10 steps to recover unauthorised expenditure from a responsible official or former official.
Sbort title
4. This Act is called the Finance Act, 2012.
6 No. 35185 GOVERNMENT GAZETTE, 27 MARCH 2011
Act No.2 of2012 Finance Act, 2012
SCHEDULE 1: Unauthorised expenditure referred to in section 34(1)(a) of the Public Finance Management Act, 1999: An additional amount Is appropriated as a direct charge against the National Revenue Fund to cover the overspending of the vote appropriation
Amount Unauthorised Committee on Public Financial Year Vote Title
Accounts Report
{R) Reference
Column 1 Column2 Column3 Column 4
COPA 2011
40 292 419.92 9th report 2003/04 Defence and Military Veterans
40 292 419.92
SCHEDULE 2: Unauthorised expenditure referred to In section 34(1)(bJ of the Public Finance Management Act, 1999: Funds surrendered by the vote In respect of the listed unauthorised expenditure will be refunded as a direct charge against the National Revenue Fund in favour of the vote
Amount Unauthorised Committee on Public Financial Year Vote Title
Accounts Report
(R) Reference
Column 1 Column2 Column 3 Column4
COPA 2011
7 475 276.05 9th report 1998/99 Defence and Military Veterans
2 376 437.00 9th report 1999/2000 Defence and Military Veterans
1 534 659.00 9th report 2000/01 Defence and Military Veterans
1464 766.00 9th report 2001/02 Defence and Military Veterans
2 099 000.00 9th report 2002/03 Defence and Military Veterans
160 000.00 9th report 2003/04 Defence and Military Veterans
1 700893.13 9th report 1998/99 Defence and Military Veterans
1 765 920.44 9th report 1999/2000 Defence and Military Veterans
16 980.00 9th report 1999/2000 Defence and Military Veterans
2 031 420.71 9th report 2000/01 Defence and Military Veterans
20 625 352.33
SCHEDULE 3: Unauthorised expenditure referred to in section 34(2) of the Public Finance Management Act, 1999: No additional amount Is approved to cover the overspending of this vote. The amount must be charged against the budget allocations of the Department This must be effected prior to 1 April 2015
Amount Unauthorised Committee on Public Financial Year Vote Title
Accounts Report
(R) Reference
Column 1 Column2 Column3 Column 4
COPA 2011
483 821 478.78 11th report 2008/09 Correc:tional Services
483 821 478.78