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BUDGET ACT, 2001.

ARRANGEMENT OF SECTIONS.

   Section

   1.   Short title.

   2.   Interpretation.

   3.   Submission of estimates under Article 155 of the Constitution.

   4.   Macroeconomic plan and indicative framework.

   5.   Submission of estimates of Departments etc.

   6.   Policy Statements of Ministries on estimates.

   7.   Consideration by Sessional and budget Committees.

   8.   Consideration of reports on estimates by Parliament.

   9.   Reports by Committees.

   10.   Cost estimates for Bills.

   11.   Parliament to analyse Policy issues.

   12.   Supplementary expenditure.

   13.   Reports on loans and grants.

   14.   Domestic Debt.

   15.   Reports on exemptions of tax.

   16.   Report on expenditure from the contingencies Fund.

   17.   Report on Appropriation in Aid.

   18.   Liability on failure to meet requirements.

   19.   Parliament Budget Committee.

   20.   Budget Office.

   21.   Functions of Budget Office.

   22.   Extension of period set.

BUDGET ACT, 2001.

Commencement: 1 July, 2001.

   An Act to provide for and regulate the budgetary procedure for a systematic and efficient budgetary process and for other matters connected therewith.

1.   Short title.

This Act may be cited as the Budget Act, 2001.

2.   Interpretation.

   In this Act, unless the context otherwise requires—

   "Budget" means the process by which Government sets levels to efficiently collect revenue and allocate the spending of resources among all sectors to meet national objectives.

3.   Submission of estimates under Article 155 of the Constitution.

   (1) The President shall cause to be prepared, submitted and laid before Parliament in each Financial Year but in any case not later than the 15th"> day of June in the Financial year, estimates of revenue and expenditure of Government for the next Financial Year.

   (2) Notwithstanding the provisions of subsection (1) the President may cause to be prepared and laid before Parliament—

   (a)   fiscal and monetary programmes and plans for economic and social development covering a period of three years;

   (b)   estimates of revenue and expenditure covering a period of three years.

4.   Macroeconomic plan and indicative framework.

   (1) The President shall, not later than the 1st ">day of April in each financial year

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