Electricity Regulation Act, 2006
R 385.00
Adjustments Appropriation Act, 2024 (Act No. 49 of 2024)5. Use of unspent funds |
| (1) | Despite section 3 of this Act, section 3 of the Appropriation Act, 2024, and section 43(4) of the Public Finance Management Act, the Minister, in writing, may approve that unspent funds in an amount in Schedule 1 or 2 to this Act appropriated for— |
| (a) | transfers and subsidies to other institutions, be used elsewhere within the same main division; |
| (b) | payment for capital assets, be used elsewhere within the same vote; or |
| (c) | payment for financial assets, be used elsewhere within the same main division. |
| (2) | The sum of the unspent funds in a main division of a vote approved for use in another main division of that vote in terms of— |
| (a) | subsection (1); and |
| (b) | section 43(1) of the Public Finance Management Act, may not exceed eight per cent of the amount appropriated under that main division. |
| (3) | The approval of the use of unspent funds in terms of subsection (1) must be disclosed in the National Treasury’s next quarterly report to the relevant Parliamentary Committees. |
| (4) | Despite any provision in other legislation to the contrary, the amount appropriated for the compensation of employees within a vote in Schedule 1 or 2 to this Act, may only be increased with the approval of the Minister. |
| (5) |
| (a) | Section 43 of the Public Finance Management Act and the provisions of this Act apply with the necessary changes to the use of unspent funds in the amount appropriated under a main division within a vote to defray excess expenditure within the same main division for another classification as envisaged in the definition of ‘‘purpose’’ in section 1 of the Appropriation Act, 2024. |
| (b) | The sum of the unspent funds under a classification in a main division within a vote approved for use, in terms of paragraph (a), may only exceed eight per cent of the amount appropriated for the classification with the approval of the Minister. |
