To regulate the financial management of Parliament and provincial legislatures in a manner consistent with its status in terms of the Constitution; to ensure that all revenue, expenditure, assets and liabilities of Parliament and provincial legislatures are managed efficiently, effectively and transparently; to provide for the responsibilities of persons entrusted with financial management in Parliament and provincial legislatures; and to provide for matters connected therewith.

[Long title substituted by section 23 of Act No. 34 of 2014]