Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)

Chapter 10 : Municipal Entities

Purchase

(1)	A municipal entity may borrow money, but only in accordance with—

(a)	the entity's multi-year business plan referred to in section 87(5)(d); and

(b)	the provisions of Chapter 6 to the extent that those provisions can be applied to a municipal entity.

(2)	In applying Chapter 6 to a municipal entity, a reference in that Chapter to a municipality, a municipal council or an accounting officer must be read as referring to a municipal entity, the board of directors of a municipal entity or the accounting officer of a municipal entity, respectively.