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1998 Supplementary Appropriation Act 1998

SOLOMON ISLANDS

THE 1998 SUPPLIMENTARY APPROPRIATION ACT 1998
(NO. 4 OF 1998)

Passed by the National Parliament this twenty-eighth day of April 1998.

Assented to in Her Majesty's name and on Her Majesty's behalf this twentieth day of May 1998.

AN ACT To Appropriate five hundred and one million, sixty hundred and ninety five thousand and five hundred and sixty, four dollars to the service of the year ending 31st December, 1998.

Short title.

1. This Act may be cited as the 1998 Appropriation Act 1998.

Authorisation of issue from the Consolidated Fund of $501,695,564 to the service of 1998.

2. The issue from the Consolidated Fund is hereby authorised of the sum of five hundred and one million six hundred ninety five thousand, five hundred and sixty four dollars to be applied to the service of the year ending 31st December 1998.

Appropriation.

3. The sum specified in the preceding section shall be appropriated for the supply of the heads specified, and in the amounts respectively specified in relation thereto, in the First Schedule.

Overdrafts and Advances.

4. The Government may, at any time or times not later than the 31st December 1998 borrow by way of overdraft and advances within or outside Solomon Islands, any sum not exceeding in the whole one hundred million dollars on such terms and conditions as the Minister of Finance may deem expedient.

Structural Reform Programme and Development Loans.

5. (1) The Government may, in addition to its borrowings under the provisions of section 4, borrow or enter into agreements to borrow on such terms and conditions as it may determine amounts up to such sums of money for such purposes and from such sources as are respectively specified in the first, second and third columns of the Second Schedule.

(2) No amount may be borrowed under subsection (1) except in accordance with an agreement under that subsection entered into on or before 31st December 1998.

(3) The Government shall not, without first obtaining the further authority of Parliament borrow for the purposes described thereto any sum or sums in excess of the figure shown in the first column of the Second Schedule.

(4) The Minister shall report to Parliament at the meeting next following such borrowing or agreement any borrowing or the making of any agreement to borrow under subsection (1).

Advance Warrant.

6. The total sums authorised by advance warrants issued by the Minister in exercise of his powers under section 13 of the Public Finance and Audit Act 1978 for the financial year 1998 shall not at any time exceed ten million dollars.

Contingencies Warrant

7. The total sums authorised by contingencies warrants issued by the Minister in exercise of his powers under section 15 of the Public Finance and Audit Act 1978 for the financial year 1998 shall not exceed the following amounts:

(a) in respect of Heads of Recurrent Expenditure, two million dollars;

(b) in respect of Heads of Development Expenditure two million dollars.

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FIRST SCHEDULE
(Section 3)

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SECOND SCHEDULE
(Section 5)

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