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2008 Appropriation Act 2008 (No.1 of 2008).

SOLOMON ISLANDS

THE 2008 APPROPRIATION ACT 2008
(NO. 1 OF 2008)

Passed by the National Parliament this seventh day of April 2008.

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

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Florence Naesol (Mrs)
Deputy Clerk to National Parliament

Assented to in Her Majesty's name and on Her Majesty's behalf this fourteenth day of April 2008.

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Sir Nathaniel Rahumaea Waena
Governor-General

Date of commencement: date of publication in the Gazette.

AN ACT TO APPROPRIATE ONE THOUSAND FOUR HUNDRED AND FORTY FOUR MILLION, THREE HUNDRED AND TWENTY THREE THOUSAND, TWO HUNDRED AND NINETY DOLLARS, TO THE SERVICE OF THE YEAR ENDING 31ST DECEMBER 2008.

ENACTED by the National Parliament of Solomon Islands.

Short title

1. This Act may be cited as the 2008 Appropriation Act 2008.

Authorisation of issue from the Consolidated Fund $ 1,444,323,290 to the services of 2008

2. The issue from the Consolidated Fund is hereby authorised of a sum of one thousand four hundred and forty-four million, three hundred and twenty three thousand, two hundred and ninety dollars, to be applied to the service of the year ending 31st December 2008.

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 2008, 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.

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 section (1) except in accordance with an agreement under that subsection entered into on or before 31st December 2008

(3) The Government shall not, without first obtaining the further authority of Parliament to borrow for the purposes 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 2008 shall not at any one time exceed fifty 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 2008 shall not exceed the following amounts:

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

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

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FIRST SCHEDULE
(Section 3)

BUDGET SUPPORT EXPENDITURE

DEVELOPMENT EXPENDITURE

Note:

This Appropriation Bill does not include $225,438,025 appropriated through Statutory Expenditure, including the $194,531,515 to be expended on Total National Debt. These Statutory Appropriations are included in the Recurrent Estimates Document and are appropriated by existing legislation

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SECOND SCHEDULE
(Section 5)