The Ad Hoc Committee on the Funding of Political Parties, established by a resolution of the National Assembly on 6 June 2017 in terms of Rule 253(1)(a), has today approved the Political Party Funding Bill of 2017.
The 11-member multiparty Committee was charged with inquiring into and making recommendations on the funding of political parties represented in national and provincial legislatures, with a view to introducing amending legislation, if required.
It was to consider a model of public and private funding for political parties and the desirability of regulating private funding in all its forms, including investment entities owned by political parties.
Thus, having reviewed the Public Funding of Represented Political Parties Act, No. 103 of 1997 and its regulations, the Committee has recommended for a repeal of the existing legislation and has developed a new framework to address the weaknesses identified.
We are confident that the process was transparent, inclusive and will stand the test of time. We began by inviting written and oral comments on the existing legislation and received 17 from individuals and organisations, said Mr Vincent Smith, the Chairperson of the Committee.
In the Bill, the Committee recommends that the Represented Political Party Fund and the proposed Multiparty Democracy Fund be managed by the Independent Electoral Commission (IEC). It further says that the two funds should be managed by a separate business unit with its own chief executive.
The Committee has expressed its gratitude to the individuals, organisations and other stakeholders who participated in the process and contributed to the development of the Bill.
It will table its report in the National Assembly on Thursday 30 November 2017 for a debate and declarations.
Source: Parliament of the Republic of South Africa