Gold and Foreign Exchange Contingency Reserve Account Defrayal Act

Payments to cover a loss on the Gold and Foreign Exchange Contingency Reserve Account against the National Revenue Fund are a direct charge.

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Jurisdiction: South Africa
Instrument: Act or statute
Citation: Act 4 of 2003
Version: Undated source snapshot
Language: en
Updated: 31 Mar 2003
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budget allocations government payments revenue fund

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Payments to cover a loss on the Gold and Foreign Exchange Contingency Reserve Account against the National Revenue Fund are a direct charge. The section sets payment amounts for specified financial years, including R7 000 million for 2002/03 and up to R31 024 million for 2003/04 to 2005/06, subject to an agreement on the exact figures. This section states the short title of the Act: the Gold and Foreign Exchange Contingency Reserve Account Defrayal Act, 2003.

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Provisions of Gold and Foreign Exchange Contingency Reserve Account Defrayal Act

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1
Despite anything to the contrary contained in any law, payments to defray a loss on
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AI-assisted research summary: Payments to cover a loss on the Gold and Foreign Exchange Contingency Reserve Account against the National Revenue Fund are a direct charge.

1. Despite anything to the contrary contained in any law, payments to defray a loss on the Gold and Foreign Exchange Contingency Reserve Account against the National Revenue Fund. are a direct charge 5 Payments
2
The payments to be made in terms of the mechanism contemplated in section 1, in
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AI-assisted research summary: The section sets payment amounts for specified financial years, including R7 000 million for 2002/03 and up to R31 024 million for 2003/04 to 2005/06, subject to an agreement on the exact figures.

2. The payments to be made in terms of the mechanism contemplated in section 1, in respect of the 2002/03, 2003/04, 2004/05 and 2005106 financial years, are: - _ ( a ) an amount of R7 000 million (seven thousand million rand) for the 2002/03 10 financial year: and (6) an amount not exceeding R31 024 million (twenty one thousand and twenty the 2003/04, 2004l05 and 2005/06 financial years. four million rand) for subject to an agreement between the National Treasury and the South African Reserve Bank on the outstanding amount to be settled and the exact figure to 15 be paid in each of those financial years. Short title
3
This Act shall be called the Gold and Foreign Exchange Contingency Reserve
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AI-assisted research summary: This section states the short title of the Act: the Gold and Foreign Exchange Contingency Reserve Account Defrayal Act, 2003.

3. This Act shall be called the Gold and Foreign Exchange Contingency Reserve Account Defrayal Act. 2003.

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Gold and Foreign Exchange Contingency Reserve Account Defrayal Act

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