Political Party Funding Act, 2018 (Act No. 6 of 2018)RegulationsRegulations regarding the funding of political parties issued in terms of section 24(2) of the Political Party Funding Act, 201810. Duties of accounting officer of political party |
| (1) | The accounting officer of a represented political party, duly appointed in terms of section 12(1)(c) of the Act, must keep separate books and records of account, in accordance with generally accepted accounting practice, in respect of money allocated from the Funds and all transactions involving that money. |
| (2) | The accounting officer of a political party must— |
| (a) | submit the details of the political party’s office bearers, its official addresses and the auditors appointed in section 12(1)(d) in forms substantially similar to PPR8, PPR9, PPR10, PPR11 and PPR12; |
| (b) | prepare the statements contemplated in section 12(2)(d)(i) and (ii) and submit them to the appointed auditor within three months of end of the financial year; |
| (c) | in the preparation of the statements specifically account for the following— |
| (i) | any donations not accepted by the political party under section 8(1), (2) and (3); |
| (ii) | any donations received from foreign entities for the purposes permitted in terms of section 8(4) and what those donations were used for; |
| (iii) | all donations received in aggregate or otherwise that exceed the disclosure threshold; |
| (iv) | any income received by the political party other than that provided for in the Act; |
| (v) | any loans made to the political party and the terms on which the money was lent; and |
| (vi) | a list of the bank accounts in which all donations, the membership fees, and levies imposed by the political party are deposited in opened in the name of the political party or that receive donations on behalf of the party or for use by the party in the form substantially similar to PPR3A; |
| (d) | submit the auditor’s opinion and audited financial statements to the Commission within six months of the end of the financial year in a form substantially similar to PPR12. |