In a statement, Parliament said the committee would look at amending legislation if necessary.
"The ad hoc committee will consider the model of public and private funding for political parties and the need for, and possible means of, regulating private funding in all its forms, as well as investment entities owned by political parties," the statement said.
"It will consist of 11 members – six from the African National Congress, two from the Democratic Alliance, one from the Economic Freedom Fighters and two from all other parties represented in the National Assembly."
The committee would be expected to report back to the National Assembly by November 30.
African News Agency