Public Finances (Management) Act 1995

• Coming into Force: 01 January 1995
• Year: 1995
• Published date: 01 January 1995
• Revision Date: 19 May 2022
• Type of Document: Current Version

Contenidos

• Public Finances (Management) Act 1995
• PART I.—PRELIMINARY.
• 1. Compliance with Constitutional requirements.
• 1A. Integrity of Constitutional institutions.
• 1B. Application to Bougainville Government.
• 2. Interpretation.
• 2A. Fiscal year declaration.
• 2B. Delegation.
• PART II.—RESPONSIBILITY FOR FINANCIAL MANAGEMENT.
• 3. Responsibilities and powers of the Finance Minister.
• 3A. Responsibilities and powers of the Treasurer.
• 3B. Responsibilities and powers of Finance Minister and Treasurer exercised by one person.
• 4. Responsibilities and powers of the Finance Departmental Head.
• 4A. Responsibilities and powers of the Treasury Departmental Head.
• 5. Responsibilities of Head of Department.
• 6. Accountable officers.
• 7. Responsibility in relation to collection of public money.
• 8. Finance inspectors.
• 8A. Financial controllers.
• 8B. Provincial finance managers.
• 8C. District Finance Managers.
• 9. Consolidated Revenue Fund, General Revenue Funds and Trust Funds.
• PART III. — CONSOLIDATED REVENUE FUND, TRUST ACCOUNTS AND PUBLIC FUNDS.
• 10. Public Funds.
• 11. Keeping of Public Funds.
• 12. Investment of Public Funds.
• 13. Payments into the Consolidated Revenue Fund.
• 14. Payments out of Consolidated Revenue Fund.
• 15. Establishment of Trust Accounts.
• 16. Payments into Trust Accounts.
• 17. Payments out of Trust Accounts.
• 18. Moneys at credit of Trust Account not to lapse.
• 19. Management of Trust Account.
• 19A. Finance Departmental Head to give directions.
• 20. Unclaimed Trust Fund Moneys.
• 21. Closing of Trust Accounts.
• PART IV.—NATIONAL BUDGET.
• 22. National Budget.
• 23. Compilation of National Budget.
• 23A. Mandatory Budget Consultation.
• PART V.—BUDGETARY CONTROL.
• 24. Adjustment of appropriation as between services and new services.
• 25. . . . [Repealed]
• 26. . . . [Repealed]
• 27. Lapsing of appropriations.
• 28. Certain amounts deemed to have been appropriated.
• 29. Warrants for issue and expenditure of public moneys.
• 30. Lapse of certain warrants.
• 31. Warrant authorities.
• 32. Approval of requisitions.
• 33. Payment of accounts.
• 34. . . . [Repealed]
• PART VA.—BUDGETARY CONTROL OF REVENUE ACCRUING TO THE STATE FROM THE DEVELOPMENT OF MINERAL RESOURCES.
• 34A. Interpretation.
• 34B. Preparation of estimates of revenue, etc.
• 34C. Expenditure of excess revenue from designated mining enterprises, etc.
• PART VI.—BORROWING, GUARANTEES AND LOANS BY THE STATE.
• 35. Restrictions on borrowing.
• 36. Loans to the State.
• 37. Guarantees by the State.
• 38. Loans by the State.
• PART VII. — PROCUREMENT REGULATION AND COORDINATION.
• 38A . . . [Repealed]
• 39. Establishment of APC Committee.
• 39A . . . [Repealed]
• 39B . . . [Repealed]
• 40. APC Committee powers and functions.
• 41. APC Committee Secretariat.
• 42. Authority to Pre-commit Expenditure.
• 43. Contracts to be executed in multiple years.
• 44. Certain contracts null and void.
• 45. Claim against the State not enforceable in certain circumstances.
• 46 . . . [Repealed]
• 47 . . . [Repealed]
• 47A . . . [Repealed]
• 47B . . . [Repealed]
• 47C . . . [Repealed]
• 47D . . . [Repealed]
• 47E . . . [Repealed]
• PART VIIA. — PUBLIC BODIES.
• 47F. Application of Part VIIA.
• 47G. Performance and management plans for public bodies.
• 47H. Bank accounts.
• 47I. Budget appropriation payments to public bodies.
• 47J. Application of moneys by public bodies.
• 47K. Accounts, records, etc., of public bodies.
• 47L. Reports and financial statements of public bodies.
• 47M. Powers of inspection of the Finance Minister, etc., of public bodies.
• 47N. Establishment, Restructure or Review of Public Bodies.
• PART VIII. — STATUTORY BODIES.
• 48. Application of this Part.
• 49. Subsidiary statutory bodies.
• 50. Performance and management plans.
• 51. . . . [Repealed]
• 52. Bank accounts.
• 53. Budget appropriation payments to statutory bodies.
• 54. Loans, borrowing and guarantees of statutory bodies.
• 55. . . . [Repealed]
• 56. . . . [Repealed]
• 57. Investment by statutory bodies.
• 58. Application of money by a statutory body.
• 59. . . . [Repealed]
• 60. . . . [Repealed].
• 61. . . . [Repealed].
• 62. Accounts, records, etc., by statutory body.
• 63. Reports and financial statements by statutory body.
• 64. Powers of inspection of the Finance Minister, etc., of a statutory body.
• 64A. Establishment, restructure or review of statutory bodies.
• 64B. Enforcement of Part VIII.
• 64C. Statutory body Financial Management Manual.
• 64D. Governance.
• 64E. Responsibilities of a statutory body.
• PART IX.—PROVINCIAL AND LOCAL-LEVEL GOVERNMENTS.
• 65. Conditional grants.
• 65A. . . . [Repealed]
• 66. Investment.
• 67. Loans, borrowing and guarantees.
• 68. Accounts, records, etc.
• 69. . . . [Repealed].
• 70. Provincial and District Finance Office.
• 71. Statement of financial position, etc., of Provincial Government and Local-level Government.
• PART IXA. — FEES AND CHARGES.
• 71A. Authority to fix fees and charges.
• 71B. Review of fees and charges.
• 71C. Adjustment of fees and charges.
• 71D. Arrears in fees and charges.
• PART X.—THE PUBLIC ACCOUNTS COMMITTEE.
• 72. Interpretation of Part X.
• 73. Constitution of Committee.
• 74. Declaration to be made by members.
• 75. Normal term of office.
• 76. Vacation of office.
• 77. Failure to attend meetings, etc.
• 78. Quorum.
• 79. Presiding at meetings.
• 80. Voting.
• 81. Power to sit during recess.
• 82. Reports.
• 83. Minutes.
• 84. Sectional Committees.
• 85. Continuance of evidence.
• 86. Functions of the Committee.
• 86A. Referral of matter.
• 87. Accounts of certain public and statutory bodies.
• 88. Sittings to be in public except in certain cases.
• 89. Power to summon witnesses.
• 90. Compliance with summons.
• 91. Preventing witnesses from giving evidence.
• 92. Power to take evidence on oath or affirmation.
• 93. Compliance with production or answering, etc.
• 94. Privileges of witnesses.
• 95. Protection to witnesses.
• 96. False, incomplete or misleading evidence.
• 97. Witnesses' expenses.
• 98. . . . [Repealed]
• 99. Allowances.
• 100. Annual report by Chairman on expenditure.
• 101. Gazettal of Committee.
• PART XI. — PENALTIES AND SURCHARGE.
• 102. Imposing of surcharge penalty.
• 103 . . . . [Repealed].
• 104. Annulment of surcharge.
• 105 . . . . [Repealed].
• 106. Recovery of amount of surcharge.
• 106A. Offences.
• 106B. Permanent disbarment.
• 106C. Suspension in certain circumstances.
• PART XII.—MISCELLANEOUS.
• 107. Ex gratia payments.
• 108. Writing off.
• 109. Waiver of fees.
• 110. . . . [Repealed].
• 111. Laws of another country may apply to financial operations of certain agents of the State.
• 112. . . . [Repealed]
• 113. . . . [Repealed]
• 114. . . . [Repealed]
• 114A. Disciplining of Departmental Heads, etc., in certain circumstances.
• 115. Regulations.
• 116. Directions as to moneys etc., outside the country.
• 117. Financial instructions and financial manuals.
• PART XIII.—REPEAL.
• 118. Repeal.
• PART XIV.—TRANSITIONAL.
• 119. Interpretation.
• 120. Reference to consolidated revenue fund.
• 121. Transfer of sums at credit of Consolidated Revenue Fund.
• 122. Reference to Trust Fund and Trust Accounts.
• 123. Transfer of Trust Accounts, etc.
• 124. Former investments.
• 125. Unclaimed Trust Fund moneys.
• 126. Former warrants, etc.
• 127. Continuance of former Acts, etc.
• 128. Transitional Financial Instructions, etc.
• 129. References to repealed Act.
• 130. Members of the Public Accounts Committee.
• 131. Sectional committees.
• 132. Continuance of evidence.
• 133. Reports.
• 134. References.
• 135. Consolidated revenue fund, trust funds and trust accounts.
• 136. Former warrants, etc.
• 137. Continuance of former Acts, etc.

Public Finances (Management) Act 1995

Warning: The Public Finances (Management) Act 1995 has been amended by the Public Finances (Management)(Amendment) Act 2019 (No 27 of 2019) which at the date of publication of this Infobase (18) had not yet commenced, and has not therefore been consolidated in this Act.

Whole act applied by Road (Management and Fund) Act 2020, section 45

Whole act applied by The Joint Forces College of Papua New Guinea Act 2020, section 23

Whole act applied by National Pandemic Act 2020, section 51

Whole act excluded by Emergency (General Provisions) (COVID 19) Act 2020, section 8

Whole act applied by National Energy Authority Act 2021, section 139

Whole act applied by Connect PNG (Implementation and Funding Arrangements) Act 2021, section 5

[The Public Finances (Management) Act 1995 consolidated to No 15 of 2021

INDEPENDENT STATE OF PAPUA NEW GUINEA.

No. 21 of 1995.

AN ACT

entitled

Public Finances (Management) Act 1995,

Being an Act to make provision for...