Intellectual Property Rights from Publicly Financed Research and
R 385
Division of Revenue Act, 2024 (Act No. 24 of 2024)Chapter 3 : Conditional Allocations to Provinces and MunicipalitiesPart 1 : Conditional allocations7. Conditional allocations to provinces |
| (1) | Conditional allocations to provinces for the 2024/25 financial year from the national government’s share of revenue raised nationally are set out in— |
| (a) | Part A of Schedule 4, specifying allocations to provinces to supplement the funding of programmes or functions funded from provincial budgets; |
| (b) | Part A of Schedule 5, specifying specific-purpose allocations to provinces; |
| (c) | Part A of Schedule 6, specifying allocations-in-kind to provinces for designated special programmes; and |
| (d) | Part A of Schedule 7, specifying funds that are not allocated to specific provinces, which may be released to provinces to fund an immediate response to a classified disaster. |
| (2) | An envisaged division of conditional allocations to provinces from the national government’s share of revenue anticipated to be raised nationally for the 2025/26 financial year and the 2026/27 financial year, which is subject to the annual Division of Revenue Acts for those years, is set out in Column B of the Schedules referred to in subsection (1). |
| (3) |
| (a) | A Member of the Executive Council responsible for finance in a province may pledge a conditional allocation or an envisaged conditional allocation, or a portion thereof, as security for any borrowing in terms of the Borrowing Powers of Provincial Governments Act, 1996 (Act No. 48 of 1996), in accordance with this subsection. |
| (b) | If a Member of the Executive Council responsible for finance in a province intends to pledge as envisaged in paragraph (a), he or she must— |
| (i) | consult the relevant transferring officer; and |
| (ii) | obtain the approval of the Loan Co-ordinating Committee, referred to in section 2 of the Borrowing Powers of Provincial Governments Act, 1996. |
| (c) | The pledging envisaged in paragraph (a) must comply with any conditions imposed by the Loan Co-ordinating Committee. |
| (d) | The relevant receiving officer must submit financial and non-financial reports, in the format and on the dates determined by the National Treasury, for any project pledged to be partially or fully funded by using a conditional allocation or an envisaged conditional allocation, or a portion thereof, as security as envisaged in paragraph (a). |
| (4) |
| (a) | If any expenditure from contingencies is approved in terms of the Appropriation Act, 2024, to increase any conditional allocation to provinces, the National Treasury must increase the allocation per province by notice in the Gazette. |
| (b) | The increase referred to in paragraph (a) takes effect on the date of publication in the Gazette. |
| (c) | If a conditional allocation in Part A of Schedule 5 or 6 is increased in terms of paragraph (a), the National Treasury must amend the notice published in terms of section 15 by notice in the Gazette. |
| (d) | Section 23 of this Act applies with the necessary changes in relation to the increase referred to in paragraph (a). |
