Medium-term Expenditure Framework Statement requires multi-year rolling targets and assumptions to be laid before Parliament. Section 3 is amended to insert a Medium-term Expenditure Framework Statement as a separate fiscal document to be laid before both Houses of Parliament after the session in which related policy statements were presented; the MTEF must set rolling multi-year targets for prescribed expenditure indicators, specify underlying assumptions and risks, and disclose multi-year expenditure commitments, contingent liabilities as annuity payments, and detailed breakup of grants for capital assets.