Armaments Corporation of South Africa, Limited Act, 2003 (Act No. 51 of 2003)Chapter 3 : Financial and Audit Matters17. System of evaluating acquisitions |
| (1) | The Corporation must provide the Secretary for Defence with a system, as required by section 38(1)(a)(iii) of the Public Finance Management Act, to evaluate all defence matériel acquisitions, prior to a final decision being made on such an acquisition. |
| (2) | The system referred to in subsection (1) must be fair, equitable, transparent, competitive and cost effective and must comply with all relevant national legislation. |
| (3) | The system must be supported by a tender and contract management system. |