Financial Management of Parliament Act, 2009 (Act No. 10 of 2009)

Chapter 1 : Interpretation and Objects

Purchase

The objects of this Act are—

(a)	to ensure transparency, accountability and sound management of the revenue, expenditure, assets and liabilities of Parliament;

(b)	to ensure a consultative relationship between Parliament and the National Treasury, conducted at a high level and based on respect for—

(i)	the constitutional status of Parliament;

(ii)	the constitutional requirements for the tabling of money bills;

(iii)

budget processes, standards of generally recognised accounting practice, uniform expenditure classifications and the treasury norms and standards established in terms of the Public Finance Management Act; and

(iv)	the fiscal policy of the national government;

(c)	to provide the National Treasury with —

(i)	an opportunity to make comments on proposed annual budgets and adjustments budgets of Parliament;

(ii)	information on the proposed annual budget and adjustments budgets of Parliament for inclusion in the national annual budget and adjustments budgets; and

(iii)

regular information on expenditure by Parliament; and

(d)	to provide for parliamentary oversight of Parliament’s budgeting and expenditure through an appropriate oversight mechanism of Parliament as provided for in section 4 of the Act.

[Section 2 amended by section 4 of Act No. 34 of 2014]