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Public Finance Management Act, 1999 (Act No. 1 of 1999)

Chapter 5 : Departments and Constitutional Institutions

Part 2: Responsibilities of accounting officers

43. Virement between main divisions within votes

 

(1) An accounting officer for a department may utilise a saving in the amount appropriated under a main division within a vote towards the defrayment of excess expenditure under another main division within the same vote, unless the relevant treasury directs otherwise.

 

(2) The amount of a saving under a main division of a vote that may be utilised in terms of subsection (1), may not exceed eight per cent of the amount appropriated under that main division.

 

(3) An accounting officer must within seven days submit a report containing the prescribed particulars concerning the utilisation of a saving in terms of subsection (1), to the executive authority responsible for the department and to the relevant treasury.

 

(4) This section does not authorise the utilisation of a saving in—
(a) an amount specifically and exclusively appropriated for a purpose mentioned under a main division within a vote;
(b) an amount appropriated for transfer to another institution; and
(c) an amount appropriated for capital expenditure in order to defray current expenditure.

 

(5) A utilisation of a saving in terms of subsection (1) is a direct charge against the relevant Revenue Fund provided that, in the case of a province, that province enacts such utilisation as a direct charge.

 

(6) The National Treasury may by regulation or instruction in terms of section 76 regulate the application of this section.