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This Act provides for certain aspects relating to disposal of public property and other matters relating to public asset management. The objects of this Act are to promote— (a) the principles of accountability, integrity, transparency and value for money; (b) efficiency, fairness, equity and public confidence; and (c) local industry development, sustainable procurement and sustainable development, in public procurement and the disposal of public property. “Public property” means real or personal property owned by a public body. “Disposal of public property” includes the transfer without value, sale, lease, concession, or other alienation of property that is owned by a public body. A public body shall carry out public procurement and the disposal of public property in a manner that is consistent with the objects of this Act.
Amended by: Public Procurement and Disposal of Public Property (Amendment) Act, 2016 (No. 5 of 2016). (2016-06-17)
Amended by: Public Procurement and Disposal of Public Property (Amendment) Act, 2017 (No. 3 of 2017). (2017-03-13)
