In terms of the statutory requirements, the National Assembly has set up standing committees on finance and appropriations - and disbanded the former Portfolio Committee of Finance and the Joint Budget Committee. Section 4 of the Act stipulates that each House must create committees on finance and appropriations, with specific powers and functions as conferred by the Constitution, legislation and standing rules. The responsibilities of the committee on finance are broadly to review macro-economic and tax proposals contained in the Fiscal Framework, the Medium-Term Budget Policy Statement (MTBPS) and other documents; whereas the committee on appropriations is tasked with considering appropriation Bills and the division of revenue between the spheres of government. This committee also monitors government expenditure. The National Assembly has also processed various bills and instruments in accordance with the legislation, most notably the MTBPS 2009 and the budget 2010/11.