All political parties will have to make the audited books of their party funding accessible to the Independent Electoral Commission (IEC) for public scrutiny once the Political Party funding bill has been passed and signed into law.
The bill will be debated in the National Assembly Tuesday afternoon .
The bill seeks to impose stricter regulations on private funding received by parties and to prohibit them from receiving donations from foreign donors.
Committee Chairperson Vincent Smith says one of the important aspects of the bill is that it would curb state capture.
He says some of the important aspects of the bill include the establishment of a central fund were donations can be made as opposed to making it directly to political parties.
“Another would be the prohibition of donation received from foreign governments and foreign entities. We are also saying there should be a cap on any individual who donates to a political party so that we don’t have state capture, so that everybody would have a upper limit per year. We are saying there should be total transparency”.
“All political parties would have to have their audited books sent to the IEC for safe keeping for making it accessible to the South African public,” adds Smith.
