Financial Management and Audit (Amendment) Bill 2014
30/01/2014
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OBJECTS AND REASONS

This Bill would amend the Financial Management and Audit Act, Cap. 5 to ensure that provisions of the Act reflect the repeal of the Public Accounts Committee Act, Cap. 10A

Arrangement of Sections

Short title

Amendment to section 38 of Cap. 5

Amendment of enactment set out in the Schedule

SCHEDULE

CONSEQUENTIAL AMENDMENT

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BARBADOS

A Bill entitled

An Act to amend the Financial Management and Audit Act, Cap. 5, consequent upon the repeal of the Public Accounts Committee Act, Cap. 10A.

ENACTED by the Parliament of Barbados as follows:

Short title

This Act may be cited as the Financial Management and Audit (Amendment) Act, 2014.

Amendment to section 38 of Cap. 5

Section 38 of the Financial Management and Audit Act, Cap. 5, in this Act referred to as the principal Act, is amended by deleting subsections (3), (4), (5) and (6)and inserting immediately after subsection (2) the following new subsections:

The estimates of expenditure of the office of the Auditor-General shall be transmitted to the House of Assembly.

Every report of the Auditor-General shall be addressed to the Speaker of the House of Assembly, who shall lay the report before the House of Assembly as soon as possible after the report is received by him.

A copy of every report of the Auditor-General shall also be transmitted to the Senate for information.”.

“(3)

(4)

(5)

Amendment of enactment set out in the Schedule

The Financial Management and Audit (Financial) Rules, 2011 (S.I. 2011 No. 54) set out in Column 1 of the Schedule are amended in the respects specified opposite thereto in Column 2 of the Schedule.

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SCHEDULE

(Section 3)

CONSEQUENTIAL AMENDMENT

Column 1 Column 2 Enactment Amendments Financial Management and Audit (Financial) Rules, 2011 (S.I. 2011 No. 54)

In rule 2, delete the definition of “Public Accounts Committee.”

Delete rule 32 and substitute the following: “32. Where the House of Assembly requires, an accounting officer of a department shall account to the House of Assembly on the expenditure of the votes and accounts of a department and the receipt of moneys for which the accounting officer is responsible.”

Delete rule 41 and substitute the following: “41. A collector of revenue is accountable to the House of Assembly for the punctual collection of revenue due to the Crown for which the collector of revenue is responsible.”

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Read three times and passed the House of Assembly this day of , 2014.

Speaker

Read three times and passed the Senate this day of , 2014.

President

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