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2017 Appropriation Act 2016

2017 APPROPRIATION ACT 2016

(NO. 7 OF 2016)

PASSED by the National Parliament this fourteenth day of December 2016.

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

Clezy Rore
Clerk to National Parliament

ASSENTED to in Her Majesty’s name and on Her Majesty’s behalf this nineteenth day of December 2016.

Sir Frank Utu Ofagioro Kabui
Governor-General

Date of Commencement: see section 2.

AN ACT TO APPROPRIATE THREE BILLION, NINE HUNDRED AND TWENTY FIVE MILLION, SIX HUNDRED AND FORTY SIX THOUSAND AND EIGHT HUNDRED AND NINETY TWO DOLLARS, TO THE SERVICE OF THE FINANCIAL YEAR ENDING 31 DECEMBER 2017.

ENACTED BY THE NATIONAL PARLIAMENT OF SOLOMON ISLANDS.

2017 APPROPRIATION ACT 2016

Table of provisions

1 Short title

2 Commencement

3 Authorisation of appropriation

4 Government borrowing limits

5 Debt service account

6 Advance warrants

7 Contingency warrants

SCHEDULE 1

SCHEDULE 2

2017 APPROPRIATION ACT 2016

1. Short title

This Act may be cited as the 2017 Appropriation Act 2016.

2. Commencement

This Act commences on 1 January 2017.

3. Authorisation of appropriation

(1) The issue of an amount of $3,925,646,892 from the Consolidated Fund is authorised, to be applied to the service of the financial year ending 31 December 2017.

(2) The amount specified in subsection (1) is appropriated for the supply of the heads specified in Schedule 1 in the amount specified for each head.

4. Government borrowing limits

(1) This section applies for the purposes of section 66(2) of the Public Financial Management Act 2013 for the financial year ending 31 December 2017.

(2) The Government may borrow or agree to borrow amounts not exceeding in total the borrowing limits specified in Schedule 2, column 1, for the purposes specified opposite in column 2, from the sources specified opposite in column 3.

5. Debt service account

For section 69(2) of the Public Financial Management Act 2013, the Minister must set aside 2.77% of the Government’s domestically sourced revenue earned in the financial year ending 31 December 2017, to be transferred into the debt service account for the purpose of discharging statutory debt.

6. Advance warrants

For section 60(2) of the Public Financial Management Act 2013, the total amounts authorised by advance warrants issued by the Minister for the financial year ending 31 December 2017 must not at any one time, after deducting repayments and monies on deposit, exceed $200,000,000.

7. Contingency warrants

The total sums authorised by contingency warrants issued by the Minister under section 58 of the Public Financial Management Act 2013 for the financial year ending 31 December 2017 must not exceed $85,000,000 and may only be used for the recurrent and development heads of expenditure specified in Schedule 1, Parts 1 and 3.

SCHEDULE 1

Section 3

PART 1 - RECURRENT EXPENDITURE

PART 2 - BUDGET SUPPORT EXPENDITURE

PART 3 - DEVELOPMENT EXPENDITURE

TOTAL EXPENDITURE $ 3,925,646,892

NOTE: In addition to the amount authorised by this Act, a further $82,162,311 is forecast to be expended through statutory charges on the Consolidated Fund, including $71,054,267 to be expended on National Debt Repayments. These Statutory Appropriations are explained in the Budget Strategy and Outlook (Budget Paper 1) and the Recurrent Estimates Document (Budget Paper 2) and are appropriated by existing legislation or the Constitution.

SCHEDULE 2

Section 4

GOVERNMENT BORROWING LIMITS