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2005 Appropriation Act 2004

SOLOMON ISLANDS

THE 2005 APPROPRIATION ACT 2004
(NO. 8 OF 2004)

Passed by the National Parliament this sixteenth day of December 2004.

This printed impression has been carefully compared by me to be a true and correct copy of the said Bill

Taeasi Sanga (Mrs)
Clerk to National Parliament

Assented to in Her Majesty's name and on Her Majesty's behalf this twelfth day of January 2005.

Nathaniel Rahumaea Waena
Governor-General

Date of commencement: date of publication in the Gazette.

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AN ACT TO APPROPRIATE EIGHT HUNDRED AND SIXTY TWO MILLION, SIX THOUSAND, NINE HUNDRED AND FIVE DOLLARS, TO THE SERVICE OF THE YEAR ENDING 31ST DECEMBER 2005.

ENACTED by the National Parliament of Solomon Islands.

Short title

1. This Act may be cited as the 2005 Appropriation Act 2004.

Authorisation of issue from the Consolidated Fund $862,006,905 to the service of 2005

2. The issue from the Consolidated Fund is hereby authorised of a sum of eight hundred and sixty two million, six thousand, nine hundred and five dollars, to be applied to the service of the year ending 31st December 2005.

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 31st December 2005, borrow by way of overdraft and advances within or outside Solomon Islands, any sum not exceeding in the whole ninety five million dollars on such terms and conditions as the Minister of Finance may deem expedient.

Development and Rehabilitation 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 amounts may be borrowed under subsection (1) except in accordance with an agreement under that subsection entered into on or before 31st December 2005.

(3) The Government shall not, without first obtaining the further authority of Parliament to borrow for the purpose ascribed thereto, borrow 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 of 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 (Cap 120) for the financial year 2005 shall not at any one 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 (Cap 120) for the financial year 2005 shall not exceed,

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

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

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FIRST SCHEDULE
(Section 3)

Note

This Appropriation Act does not include $83,197,606 appropriated through Statutory Expenditure, including the $13,761,551 to be expended on the Domestic Restructured Bond Debt. These Statutory Appropriation are included in the Recurrent Estimates Document and are appropriated by existing legislation.

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SECOND SCHEDULE
(Section 5)

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