Finance Act

Link to law: http://www.gov.za/documents/finance-act-5
Published: 2008-11-27

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now
Finance Act 42 of 2008


Government Gazette
REPUBLIC OF SOUTH AFRICA

Vol. 521 Cape Town 27 November 2008 No. 31654
THE PRESIDENCY No. 1289 27 November 2008
It is hereby notified that the President has assented to the following Act, which is hereby published for general information:–
No. 42 of 2008: Finance Act, 2008.

ACT To approve unauthor i sed expendi ture as a direct charge against the Nat ional Revenue F u n d ; and to provide for mat ters connected therewith.
BE IT E N A C T E D by the Par l iament of the Republ ic of South Africa, as fo l lows:— Interpretation
1. In this Act , unless the context indicates otherwise, a word or express ion to which a meaning has been assigned in the Public F inance Managemen t Act, 1999 (Act N o . 1 of 1999). has the meaning assigned to it in that Act.
Approval of unauthor i sed expendi ture
2. The unauthorised expendi ture referred to in Schedule 1 in the amount of R32 246 285.72 and in Schedule 2 in the amount of R445 171 384 .38 . and descr ibed in the reports of the National Assembly "s Standing Commi t tee on Public Accounts identified in the second co lumn of the respect ive Schedules , is hereby approved and authorised as a direct charge against the National Revenue Fund.
Recovery of unauthor i sed expendi ture
3 . This Act does not detract from or limit any right or obligation to take appropriate steps to recover unauthorised expendi ture from a responsible official or responsible former official.
Short title
4. This Act is called the F inance Act, 2008 .

Act No. 42, 2008 FINANCE ACT, 2008
S C H E D U L E 1: Unauthor ised expenditure referred to in sect ion 34(l)(a) of the 5 Public Finance M a n a g e m e n t Act , 1999
Amount Unauthorised
(R)
Standing Committee on Public Accounts Report Reference
Financial Year Vote Title
Column 1 Column 2 Column 3 Column 4
SCOPA 2008 14 185 849.88 13th report 2003/2004 Trade and Industry 11 456 455.06 13th report 2003/2004 Trade and Industry 6 375 000.00 13th report 2003/2004 Trade and Industry
228 980.78 13th report 2003/2004 Trade and Industry 32 246 285.72
S C H E D U L E 2: Unauthor ised expenditure referred to in sect ion 34(l)(b) of the Public Finance M a n a g e m e n t Act , 1999
Amount Unauthorised
(R)
Standing Committee on Public Accounts Report Reference
Financial Year
Vote Title
Column 1 Column 2 Column 3 Column 4
SCOPA 2008 6 879 000.00 9th report 2002/2003 Foreign Affairs
7 128.00 10th report 2000/2001 Land Affairs 15 331.06 11th report 2000/2001 Presidency
5 199 704.46 12th report 1999/2000 Justice and Constitutional Development 844 416.00 12th report 1999/2000 Justice and Constitutional Development
23 884 729.25 12th report 2001/2002 Justice and Constitutional Development 63 014 124.46 12th report 2002/2003 Justice and Constitutional Development 46 108 521.21 12th report 2002/2003 Justice and Constitutional Development 41 770 429.94 14th report 2001/2002 Public Works
227 088 000.00 14th report 2002/2003 Public Works 30 360 000.00 14th report 2003/2004 Public Works
445 171 384.38