Financial Services Board Act, 1990
R 385
Division of Revenue Act, 2012 (Act No. 5 of 2012)Chapter 2 : Equitable Share Allocations5. Equitable division of local government share among municipalities |
| 1) | Each municipality's share of local government's equitable share of revenue raised nationally in respect of the financial year, is set out in Column A of Schedule 3. |
| 2) | An envisaged division between municipalities of revenue anticipated to be raised nationally in respect of the next financial year and the 2014/15 financial year, and which is subject to the provisions of the annual Division of Revenue Acts for those financial years, is set out in Column B of Schedule 3. |
| 3) | Each municipality's equitable share contemplated in subsection (1) must be transferred to the primary bank account of the municipality in three transfers on 6 July 2012, 30 November 2012 and 22 March 2013, in accordance with a payment schedule determined by the National Treasury in terms of section 22. |
