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ESKOM DEBT RELIEF ACT GAZETTED
- 07 July 2023
- New Legislation
- SA Legal Academy
The Eskom Debt Relief Act and Appropriation Act, 2023, have been gazetted and are now in force. This comes less than three weeks after Parliament passed each of the Bills concerned.
The Eskom Debt Relief Act allows National Treasury to advance three specific amounts to the troubled power utility in the form of loans for the current financial year, as well as for each of two successive financial years. It also allows Eskom to convert a portion/portions of each loan to shares for the state, subject to certain conditions.
The Appropriation Act which gives practical effect to allocations set out in the 2023/24, allowing national government departments, institutions and entities listed in its schedule to function in keeping with their respective mandates.
Published by SA Legal Academy Policy Watch