(1) The objects of this Act are, with due regard to sections 195, 216 and 217 of the Constitution, to—
(a) introduce uniform treasury norms and standards for all procuring institutions to implement their procurement systems as envisaged in section 217(1), read with section 216(1), of the Constitution; and
(b) determine a preferential procurement framework for all procuring institutions within which to implement their procurement policies as envisaged in section 217(2) and (3) of the Constitution.
(2) The objects referred to in subsection (1) must, among others—
(a) ensure efficient, effective and economic use of public resources through, among others, the assessment of the costs, benefits and risks;
(b) advance ethical conduct and combat corruption through access to procurement information and other transparency measures and introducing enforcement and appropriate sanctions for transgressors;
(c) advance transformation, beneficiation and industrialisation;
(d) stimulate economic development by supporting—
(i) goods that are produced and services provided in the Republic;
(ii) procurement which is developmental in nature; and
(iii) investment;
(e) improve efficiency and effectiveness in procurement by streamlining procurement processes, amongst others, through the use of technology;
(f) provide for effective and expedited dispute resolution of procurement related decisions; and
(g) promote innovation, sustainable development and the environmental rights in section 24 of the Constitution.