ATC121120: Progress Report of the Standing Committee on Finance on the Financial Management of Parliament Act, Act 10 Of 2009, dated 20 November 2012
PROGRESS REPORT OF THE STANDING
COMMITTEE ON FINANCE ON THE FINANCIAL MANAGEMENT OF PARLIAMENT ACT, ACT 10 OF
2009, DATED 20 NOVEMBER 2012
The Standing Committee on Finance reports
1. Introduction and Background
Standing Committee on Finance (the Committee) was established in terms of
section 4(1) on the Money Bills Amendment Procedure and Related Matters Act,
2009 (Act No. 9 of 2009) (the Act).
Act came into operation on 16 April 2009.
The mandate of the Committee is conferred on it by the Constitution,
legislation, the standing rules or a resolution of a House, including
considering and reporting on-
macro-economic and fiscal policy;
amendments to the
fiscal framework, revised fiscal framework and revenue proposals and Bills;
published by the National Treasury; and
other related matter set out
in the Act.
Further to the above, the mandate also encompasses the Committees
functions to consider and report on legislation and to maintain oversight of
the exercise of national executive authority within its portfolio.
September 2012 the National Assembly, citing technical challenges that have
become apparent during the implementation of the Act, passed a resolution,
instructing the Committee to review the Act with a view to introduce amending
legislation if necessary.
resolution of the Assembly requires the Committee to:
evaluate the application of the legislation including
those provisions relating to the authority of provinces to enact financial
management legislation and the timeframes associated with various reporting
take account of the work done by the Speakers Forum;
to the National Assembly by 22 November 2012.
On 11 August 2011, in
Therefore, the review of the Financial Management of
Parliament Act must result in providing a regulatory framework for the
financial management of provincial legislatures. In this regard the Committee
will take account of the work of the Speakers Forum.
Another matter that requires attention is aligning the
provisions in section 4 of the Act, which contemplate the oversight mechanism,
to the governance structures existing in Parliament. The Committee was advised
that the procedure dealing with unspent funds of Parliament and the timeframes
in respect of the submission of the annual report, including the audited
financial statements, may require a review.
3. Way forward
The Committee resolved to convene a workshop in the first
term of 2013 to discuss the House resolution and receive inputs from all
stakeholders, including the Executive Authority of Parliament, the Minister of
Finance, Speakers of provincial legislatures, Members of Executive Councils
responsible for Finance in the provinces, the Secretary to Parliament,
Secretaries of provincial legislatures, and other officials concerned.
Report to be considered.
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