Section 3: Consolidated Fund
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
3. Consolidated Fund
(1) The Consolidated Fund established by section 103 of the Constitution
shall consist of—
(a) any money standing to the credit of the Consolidated Fund;
(b) all revenue of Government;
(c) any other money properly accruing to the Consolidated Fund
under any enactment,
but shall not include any deposit specified in section 8 or any money properly
accruing to a Special Fund.
(2) No money shall be withdrawn from the Consolidated Fund except on
the authority of a warrant under the Minister’s hand, and no such warrant
shall be issued unless the expenditure to which it relates—
(a) has been authorised by an Appropriation Act in respect of the
fiscal year during which the withdrawal is to take place; or
(b) is authorised by this Act or by any other enactment directly
charging it on the Consolidated Fund.
(3) Any money standing to the credit of the Consolidated Fund shall,
except for day to day cash requirements or for investments made under
subsection (4), be kept in such bank as the Minister may approve.
(4) (a) The Minister may authorise the investment of any money standing to the credit of the Consolidated Fund with a bank, financial institution,
fund, or in such securities, as the Minister may approve.
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Finance and Audit Act
(b) Any money invested under this subsection and any interest received from such investment shall form part of the Consolidated Fund.
[S. 3 amended by s. 23 (2) of Act 48 of 1991 w.e.f. 12 March 1992; s. 13 (a) of Act 13 of
1996 w.e.f. 1 June 1996; s. 13 (b) of Act 17 of 2007 w.e.f. 1 July 2007; s. 4 of Act 4 of
2008 w.e.f. 1 July 2008.]