The Bill also bans certain categories of donors‚ including state-owned enterprises and organs of state and donations from foreign governments and foreign government agencies‚ according to the African Christian Democratic Party's Cheryllyn Dudley
An upper limit of R15-million per donor per year is stipulated and the cap on foreign donations is R5-million per year.
Parties that fail to comply with the provisions of the Bill are subject to penalties‚ including the suspension of public funding and administrative fines potentially in excess of R1 million.
Criminal offences are also entrenched in the Bill. Dudley said: "For example‚ accepting donations from banned donors and concealing donations that are required to be disclosed are listed as criminal offences which could be punished by up to five years’ imprisonment."
In November last year‚ EWN reported that the EFF’s Thembinkosi Rawula said his party believes the bill will reproduce existing political power imbalances and is unconstitutional. He was quoted as saying: “The EFF will take the whole bill on judicial review if it is passed in its current form.”
Dudley‚ howver‚ hailed the bill as a victory for multiparty democracy.
"The extensive public consultations and hearings and the tabling of this bill today is the culmination 13 years of efforts by many‚" she said‚ particularly the Institute for Democracy in South Africa (Idasa) which filed a notice of motion in the Western Cape High Court in 2004‚ seeking an order that legislation should require political parties to disclose the details of all funding that they receive.