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South Africa's municipalities may, in terms of the Constitution of the Republic of South Africa, 1996, make by-laws for the effective administration of the matters it has a right to administer. The areas within which a municipality may make by-laws are listed in Schedule 4 Part B, and Schedule 5 Part B, of the Constitution.
In 2018 VBS Bank collapsed, affecting the deposits of 14 municipalities. These deposits, which were all illegal in terms of the Municipal Finance Management Act (MFMA), included a R245 million deposit by Fetakgomo Tubatse Municipality, and a R161 million deposit by Giyani Municipality. [18]
The Public Finance Management Act, 1999 (PFMA; Act No. 1 of 1999) is the primary public finance management law in South Africa. It delineates standards for expenditure, accounting, and reporting for public entities. Its scope is generally limited to entities of national and provincial governments.
The Interpretation Act [4] defines it as "any law, proclamation, ordinance, Act of Parliament or other enactment having the force of law." [5] The Constitution of South Africa, which has the force of supreme law, [5] and as such sets the standards and requirements for the construction and construal of statutes, also provides a definition of ...
The Free State province of South Africa is divided, for local government purposes, into one metropolitan municipality and four district municipalities. The district municipalities are in turn divided into eighteen local municipalities.
Banking in South Africa is centred on the South African Reserve Bank (SARB), which is the monetary authority and controls gold and foreign exchange reserves. [ 1 ] Legislation and regulatory authorities
Representation between the Republic of South Africa and Self-governing Territories Act, 1959 (after 1987) 47: Land Bank Amendment Act, 1959: 48: South Africa Act Further Amendment Act, 1959: 49: Offices of Profit Amendment Act, 1959: 50: Hire-Purchase Amendment Act, 1959: 51: Mines and Works Amendment Act, 1959: 52: Stamp Duties and Fees ...
The Municipal Structures Act [3] states that areas not eligible to have a metropolitan municipality must have a district municipality. District municipalities have a municipality code that consists of the letters "DC" followed by a number from 1 to 48.