Public Finance Management Act

1. This Act shall come into force upon assent by the President and publication in the gazette

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) the processes for the preparation, approval and management of a transparent, credible and predictable annual budget;
2. (c) the mechanism for the operation of the Contingencies Fund;
3. (d) the mechanisms for cash, assets and liability management;
4. (e) the reporting and accounting systems, and internal controls; and
5. (f) the legal and regulatory framework for the collection, allocation and management of petroleum revenue.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. "Accounting Officer" means a person who is-
2. "accounting standards" means authoritative statements approved by the Accountant General, indicating how particular types of transactions and other events are to be reflected in the accounts and financial statements of a vote;
3. "appropriation" means an authorization made under an Appropriation Act permitting payment out of the Consolidated Fund or the Petroleum Fund under specified conditions or for a specified purpose;
4. "Appropriation Act" means the Act passed in accordance with Article 156 of the Constitution, which authorises expenditure of public money for a financial year;
5. "budget" means the Government plan of revenue and expenditure for a financial year;
6. "budgeting" means the process by which Government sets levels to efficiently collect revenue and allocate the spending of resources among all sectors to meet national objectives;
7. "capital expenditure" means any expenditure for the creation or acquisition of a fixed asset, inventory or other valuable physical stock;
8. "classified expenditure" means the expenses and commitments incurred by an authorized agency for the collection and dissemination of information related to national security interests and includes the cost of procurement and maintenance of the related assets;

34 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The objective of the Government, when setting fiscal objectives within the macroeconomic framework, shall be to ensure macroeconomic stability and economic growth having regard to the National Development Plan.
2. (2) The fiscal objectives shall be based on the following principles-
3. (a) sufficiency in revenue mobilisation to finance Government programmes;
4. (b) maintenance of prudent and sustainable levels of public debt;
5. (c) ensuring that the fiscal balance, when calculated without petroleum revenues, is maintained at a sustainable level over the medium term;
6. (d) management of revenues from petroleum resources and other finite natural resources for the benefit of current and future generations;
7. (e) management of fiscal risks in a prudent manner;
8. (f) consistency of the Medium Term Expenditure Framework to the National Development Plan; and

2 further items remain in the statutory text above.

1. (1) The Minister shall, not later than three months after the first sitting of Parliament after a general election, submit to Parliament for approval-
2. (a) a Charter for Fiscal Responsibility which shall provide-
3. (i) a statement indicating the measurable objectives for the fiscal policy for a period of not less than the next three financial years, which are consistent with the principles set out in section 4;
4. (ii) an explanation of the methodology to be used to measure the performance of Government against the fiscal policy objectives required in subsection (1)(a)(i);
5. (iii) a list of the sources of data to be used to report developments against the fiscal objectives required in subsection (1)(a)(i); and
6. (iv) a demonstration of how the fiscal objectives set out under subsection (1)(a)(i) are consistent with principles set out in section 4 using the macroeconomic and fiscal data, assumptions, and projections provided in the economic and fiscal update referred to in subsection (1)(b); and
7. (b) an economic and fiscal update which shall be in accordance with the requirements of this section.
8. (2) The Minister shall publish the Charter for Fiscal Responsibility and the economic and fiscal update not later than one month after approval by Parliament or such a time as may be determined by Parliament.

5 further items remain in the statutory text above.

1. Cabinet shall, in making decisions with implications on public finances, or in determining, formulating and implementing Government policies as well as in performing any other functions conferred on it by this or any other Act, adhere to the Charter for Fiscal Responsibility and other requirements of this Act

1. (1) The Minister may, with the approval of Parliament, deviate from the objectives in the Charter for Fiscal Responsibility where Uganda experiences a natural disaster, an unanticipated severe economic shock, or any other significant unforeseen event that cannot be funded from the Contingency Fund or other funding mechanism provided in this Act or using prudent fiscal policy adjustments.
2. (2) The Minister shall within thirty days after deviation, publish a report in the gazette and on the website of the Ministry.

1. The Minister shall, as part of achieving the objectives of the Charter for Fiscal Responsibility, present to Parliament tax and revenue bills which give the Government power to obtain money from taxes, fees, charges and other impositions to be proposed in the annual budget

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Each Accounting Officer shall, in consultation with the relevant stakeholders, prepare a Budget Framework Paper for the vote, taking into consideration balanced development, gender and equity responsiveness and shall submit the Budget Framework Paper to the Minister.
2. (2) For the purposes of subsection (1), each Accounting Officer shall prepare and submit a Budget Framework Paper by 15th November of the financial year preceding the financial year to which the Budget Framework Paper relates.
3. (3) The Minister shall for each financial year, prepare a Budget Framework Paper which shall be consistent with the National Development Plan and with the Charter for Fiscal Responsibility.
4. (4) The Budget Framework Paper shall be in the format prescribed in Schedule 3.
5. (5) The Minister shall, with the approval of Cabinet, submit the Budget Framework Paper to Parliament by the 31st of December of the financial year preceding the financial year to which the Budget Framework Paper relates.
6. (6) The Minister shall, in consultation with the Equal Opportunities Commission, issue a certificate-
7. (a) certifying that the budget framework paper is gender and equity responsive; and
8. (b) specifying measures taken to equalize opportunities for women, men, persons with disabilities and other marginalized groups.

2 further items remain in the statutory text above.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) There is established the Treasury consisting of-
2. (a) the Minister,
3. (b) the Secretary to the Treasury,
4. (c) the Accountant-General, and
5. (d) the other directorates responsible for economic and finance matters in the Ministry.
6. (2) For avoidance of doubt, the Minister shall be the head of the Treasury.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) There is a Secretary to the Treasury appointed by the President on the recommendation of the Public Service Commission.
2. (2) The Secretary to the Treasury shall-
3. (a) advise the Minister on economic, budgetary, and financial matters;
4. (b) coordinate the preparation of the Charter for Fiscal Responsibility, the annual budgeting process including the preparation of the Budget Framework Paper, the budget estimates and the Appropriation Bill;
5. (c) promote and enforce transparent, efficient, and effective management of the revenue and expenditure and the assets and liabilities of votes;
6. (d) set standards for the financial management systems and monitor the performance of those systems;
7. (e) ensure that the internal audit function of each vote and public corporation is appropriate to the needs of the vote or public corporation concerned and conforms to internationally recognized standards, in respect of its status and procedures;
8. (f) manage the Consolidated Fund and any other fund as may be assigned by the Minister;

13 further items remain in the statutory text above.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) Parliament shall analyse policies and programmes that affect the economy and the annual budget and where necessary, make recommendations to the Ministry on alternative approaches to the policy or programme.
2. (2) Parliament shall ensure that public resources are held and utilised in a transparent, accountable, efficient, effective and sustainable manner and in accordance with the Charter for Fiscal Responsibility and the Budget Framework Paper.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The President shall cause to be prepared and laid before Parliament the proposed annual budget of Government for a financial year.
2. (2) The proposed annual budget shall be prepared in consultation with the relevant stakeholders.
3. (3) The Minister shall, on behalf of the President, present the proposed annual budget of a financial year to Parliament, by the 1st of April of the preceding financial year.
4. (4) The Speaker shall commit the proposed annual budget to the Budget Committee of Parliament and to each sectoral committee of Parliament the part of the annual budget that falls within the jurisdiction of that sectoral committee.
5. (5) The annual budget shall be effective on the 1st day of July of each year.
6. (6) The annual budget shall be consistent with the National Development Plan, the Charter for Fiscal Responsibility and the Budget Framework Paper.
7. (7) The annual budget shall be accompanied by a certificate of compliance of the annual budget of the previous financial year issued by the National Planning Authority.
8. (8) The annual budget shall be based on sound analysis and forecasts of macroeconomic developments and fiscal prospects.

47 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Parliament shall, by the 31st of May of each year, consider and approve the annual budget and work plan of Government for the next financial year, the Appropriation Bill and any other Bills that may be necessary to implement the annual budget.
2. (2) The Speaker may extend any period for consideration and approval of the annual budget by Parliament for a reasonable period.
3. (3) Where the President is satisfied that the Appropriation Act in respect of any financial year, will not or has not come into operation by the beginning of any financial year, the President may, in accordance with Article 154 Constitution, by warrant under his or her hand, addressed to the Minister, authorise the issue of money from the Consolidated Fund for purposes of meeting the expenditure necessary to carry on the services of the Government, until the expiration of four months from the beginning of that financial year, or from the coming into operation of the Appropriation Act, whichever is the earlier.

1. (1) After approval of the annual budget by Parliament, the Secretary to Treasury shall issue the annual cashflow plan of Government, based on the procurement plans, work plans and recruitment plans approved by Parliament.
2. (2) The annual cashflow plan issued under subsection (1) shall be the basis for release of funds by the Accountant General to the Accounting Officers.
3. (3) An Accounting Officer shall commit the budget of a vote, based on the annual cashflow plan issued under this section.

1. (1) An Accounting Officer shall, every three months prepare and submit to the Secretary to the Treasury, an expenditure commitment report indicating the actual and forecast commitments and cash position of the vote.
2. (2) The Secretary to the Treasury shall, using the report submitted in subsection (1) submit a consolidated expenditure commitment report of all the votes, to the Minister, within thirty days after the end of the three months.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every appropriation by Parliament shall expire and cease to have any effect at the close of the financial year for which it is made.
2. (2) A vote that does not expend money that was appropriated to the vote for the financial year shall at the close of the financial year, repay the money to the Consolidated Fund.
3. (3) A vote that repays money under subsection (2) shall revise its annual workplan, procurement plan and recruitment plan to take into account the unexpended money and the Minister responsible for the vote shall submit, as part of the budget for the preceding year, the revised workplan, procurement plan and recruitment plan to the Minister.
4. (4) Where a local government does not utilise at least 60 per cent of the unconditional or equalisation grant within a financial year, the local government shall by the 31st of July of the following financial year, explain in writing to the Minister, the reasons for its failure to utilise the grant.
5. (5) The Minister shall make a report to Parliament explaining the reasons for the non-utilization of the grant.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister shall, by the end of February and October of each financial year, make a report to Parliament on-
2. (a) the current and projected state of the economy;
3. (b) the performance of Government against the objectives of the Charter for Fiscal Responsibility;
4. (c) the financial and non-financial performance of the annual budget;
5. (d) the Contingencies Fund; and
6. (e) the virements made under section 22, if any;
7. (f) the performance of the Petroleum Fund; and
8. (g) donations made to a vote, if any.

7 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister shall publish-
2. (a) a pre-election economic and fiscal update not earlier than four months before the polling day for a general election; and
3. (b) a post-election economic and fiscal update not later than four months after the polling day of a general election.
4. (2) The economic and fiscal update shall-
5. (a) detail all the election related spending including the expenses of the Electoral Commission for the cost of the general election and any other expenses of a vote related to the election;
6. (b) be accompanied by a statement signed by the Secretary to the Treasury stating that the economic and fiscal update includes-
7. (i) all the policy decisions with economic and fiscal implications that the Government made before the day on which the contents of the economic and fiscal updates were finalised; and
8. (ii) all the other circumstances with economic and fiscal implications which the Ministry was aware of on the day on which the contents of the economic and fiscal updates were finalised.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Parliament may, by resolution, authorize the Minister to reallocate funds from a vote to another vote where the functions of a vote are transferred to that other vote

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) An Accounting Officer shall, based on the annual cashflow plan issued by the Secretary to the Treasury under section 15, plan and manage the activities as indicated in the policy statement of the vote.
2. (2) A vote shall not take any credit from any local company or body unless it has no unpaid domestic arrears from a debt in a previous financial year; and it has capacity to pay for the expenditure from the approved estimates as appropriated by Parliament for that financial year.
3. (3) An Accounting Officer shall after every three months, in the format prescribed by the Secretary to the Treasury, make a report to the Secretary to the Treasury on the activities of the vote and the execution of the budget of the vote.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister may, upon request by an Accounting Officer, vary within a vote, the amount of the money allocated to the vote.
2. (2) A virement made under subsection (1) shall not-
3. (a) be more than ten percent of the money allocated for an item or an activity of a vote where the veriment is from one item or activity to another;
4. (b) be contentious; or
5. (c) result into a future liability for the vote or the Government.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A vote shall not enter into a contract, transaction, or agreement that binds the Government to a financial commitment for more than one financial year or which results in a contingent liability, except where the financial commitment or contingent liability is authorised by Parliament.
2. (2) Parliament may, in the annual budget, authorise a vote to make a multiyear expenditure commitment, and where Parliament authorizes, the annual budget shall indicate the commitment approved for the financial year and the approved multiyear commitments.
3. (3) For avoidance of doubt, subsection (2) shall only apply where the multiyear commitment is consistent with the objectives of the Charter for Fiscal Responsibility and the Budget Framework Paper.
4. (4) The Minister shall for every financial year submit to Parliament a report on the performance of the multiyear commitments made.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) The money appropriated for classified expenditure shall only be used for defence and national security purposes.
2. (2) A committee of Parliament comprising the chairperson of the Committee responsible for budget, the chairperson of the Committee responsible for defence and internal affairs, and another member appointed by the Speaker shall scrutinise the classified expenditure budget in a closed session.
3. (3) To ensure the confidentiality of defence and national security matters, a budget for classified expenditure shall be presented as a single line item.
4. (4) An Accounting Officer of a vote to which subsection (3) applies shall, in accordance with standards and guidelines issued by the Accountant General, establish appropriate systems of internal control in respect of the transactions and resources of the vote.
5. (5) Where money appropriated by Parliament for classified purposes is not sufficient, the supplementary funding shall be in accordance with the requirements of section 25.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Where in respect of any financial year, it is found that the amount appropriated by an Appropriation Act is insufficient, or that a need has arisen for expenditure for a purpose for which no amount has been appropriated by the Appropriation Act, a supplementary estimate, showing the amount required, shall be laid before Parliament, by the Minister through a Supplementary Appropriation Bill.
2. (2) For the purposes of Article 156 (2) (b) of the Constitution, the total sum of money that may be expended by Government for any purpose, in excess of the amount appropriated for a purpose for which no money was appropriated by the Appropriation Act, shall not exceed the total of the money appropriated to the Contingencies Fund.
3. (3) The Minister may, upon request by an Accounting Officer, approve a supplementary budget of up to 10 per cent of the Contingencies Fund.
4. (4) The supplementary budget under subsection (3) shall be financed from the Contingencies Fund in accordance with section 26 (8).
5. (5) The appropriated budget of a vote under subsection (3) shall not include any supplementary budget of the vote.
6. (6) Parliament may approve a supplementary appropriation or the Minister may approve a supplementary budget, as the case may be, where the supplementary expenditure is unabsorbable, unavoidable and unforeseeable.
7. (7) For the purposes of this section-
8. (a) "unabsorbable" means an expenditure that cannot be funded through virement;

4 further items remain in the statutory text above.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) There is established a Contingencies Fund which shall, every financial year, be replenished with an amount equivalent to three and a half percent of the appropriated annual budget of Government of the previous financial year.
2. (2) For avoidance of doubt, the appropriated annual budget of Government under subsection (1) shall not include any supplementary budget.
3. (3) The Contingencies Fund shall form part of the annual budget and Parliament may, in addition to the amount under subsection (1), appropriate such other money as it may deem necessary.
4. (4) The Contingencies Fund shall be used to provide funding for supplementary expenditure under section 25 and to respond to natural disaster, as specified in this Part.
5. (5) Eighty five percent of the money of the Contingencies Fund shall be used to finance supplementary expenditure and fifteen percent shall be allocated to finance responses to natural disasters.
6. (6) Where required, more than fifteen percent of the money may be used to finance disasters.
7. (7) The Contingencies Fund shall be administered by the Minister.
8. (8) The Minister shall by warrant addressed to the Accountant-General, authorise a withdrawal from the Contingencies Fund.

13 further items remain in the statutory text above.

1. (1) The money in the Contingencies Fund which is reserved for financing responses to natural disasters may be used to evacuate a Ugandan citizen who is affected by a natural disaster that occurs outside Uganda, where the conditions of subsection (3) are met.
2. (2) A financial donation or a donation in kind, made to a vote towards responding to a disaster, shall be declared by the Minister within 30 days of receipt and the financial donation or the donation in kind shall form part of the report made under section 18 (1).
3. (3) In this Part "natural disaster" means an event that causes severe human suffering or material, economic or environmental damage and which results in or is likely to result in the loss of essential services required to meet basic human needs and which-
4. (a) cannot be responded to with the resources available from the annual budget or other sources of funds; and
5. (b) creates a compelling need for funding that is in the public interest.

1. (1) The Minister shall authorise withdrawals from the Contingencies Fund for supplementary expenditure which is authorized under section 25 (3).
2. (2) The Minister responsible for a vote or the head responsible for a vote, that requires financing from the Contingencies Fund, shall make a request, in writing, to the Minister requesting for the financing.
3. (3) A request under subsection (2) shall indicate-
4. (a) the recipient of the funding, the amount required and the purpose for which the funding is required; and
5. (b) justification of why the funding cannot be delayed to another financial year.
6. (4) The Minister shall within four months after an authorization under subsection (1), table before Parliament for approval, the withdrawals from the Contingencies Fund.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Revenue shall not be collected or received by a vote, state enterprise or public corporation, except where the vote, state enterprise or public corporation is authorised by an Act of Parliament to collect or receive revenue.
2. (2) The revenue collected or received by a vote, state enterprise or public corporation under subsection (1) shall be-
3. (a) paid into and shall form part of the Consolidated Fund; or
4. (b) receivable into a public fund established for a specific purpose where this is authorised by an Act of Parliament.
5. (3) A vote, state enterprise or public corporation shall retain revenue collected or received, where the revenue-
6. (a) is in the form of levies, licences, fees or fines and the vote, state enterprise or public corporation is authorised through appropriation by Parliament to retain the revenue;
7. (b) is a monetary grant exempted by the Minister under section 44.
8. (4) Notwithstanding subsection (3), any revenue received by a vote, state enterprise or public corporation in the form of fines or fees, which is refundable at a future date on fulfillment of specified conditions, shall not form part of the Consolidated Fund and shall be held in trust by the Government, in the Bank of Uganda.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) All revenues or other money raised or received for the purpose of the Government, shall be paid into and shall form part of the Consolidated Fund except the revenue specified in section 29 (2) (b) and (3).
2. (2) Dividends due to Government shall be paid into the Consolidated Fund without any deductions.
3. (3) For the avoidance of doubt, revenue raised or received for the purpose of the Government, does not include money received on deposit or money held on trust by or under the control of court, an officer of court, the Public Trustee, the Attorney General or money held on trust by any other public officer for any purpose other than the purposes of the Government.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) The Minister shall on the advice of the Accountant General, request the Auditor-General to issue a grant of credit on the Consolidated Fund.
2. (2) A grant of credit issued under subsection (1) shall be for the funds that are payable for-
3. (a) statutory expenditure, during a financial year; and
4. (b) services to be rendered during a financial year where the funds are-
5. (i) authorized by an Appropriation Act or Supplementary Appropriation Act; or
6. (ii) required for investment.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Money contained in the Consolidated Fund shall not be withdrawn except upon the authority of a warrant issued by the Minister, to the Accountant-General.
2. (2) The Minister shall not issue a warrant under subsection (1) except where a grant of credit is issued by the Auditor-General under section 31.
3. (3) The Minister shall issue a warrant for expenditure that is-
4. (a) authorised for the financial year during which the withdrawal is to take place by an Appropriation Act or a Supplementary Appropriation Act;
5. (b) a statutory expenditure;
6. (c) for repaying money received in error by the Consolidated Fund; or
7. (d) for paying sums required for an advance, refund, rebate or drawback where the payment of the advance, refund, rebate or drawback is provided for in this or any other Act.
8. (4) The Minister may suspend, withdraw, limit or place conditions on a warrant under this section where the Minister determines that it is necessary due to a financial exigency or that it is in public interest to do so.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Secretary to Treasury shall prescribe the framework within which votes shall conduct their banking and cash management activities.
2. (2) A bank account shall not be opened to receive or spend public money without written authority of the Accountant General.
3. (3) A local government shall not open a bank account without the written authority of the Accountant General.
4. (4) A request from another vote to a local government to open a bank account shall be made upon clearance, in writing, by the Accountant General.
5. (5) A bank account shall be managed by a vote in accordance with the terms and conditions the Accountant-General may determine.
6. (6) For the avoidance of doubt, the Bank of Uganda shall be the depository of cash for the recurrent and development operations of the votes.
7. (7) The Accountant General may authorise a vote to open a bank account in a financial institution.
8. (8) The Accountant General shall regulate the operation of a bank account of a vote and may suspend or close a bank account if he or she deems it necessary in public interest.

2 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) An Accounting Officer shall be responsible for the management of the assets and the inventories of the vote.
2. (2) Every vote shall, using the format prescribed by the Accountant-General, keep a register of the assets and the inventories of the vote.
3. (3) An Accounting Officer shall cause the assets and the inventories of a vote to be inspected regularly and for written reports on the general condition of the assets and inventories and the storage facilities for the inventories, to be made regularly.
4. (4) The Accountant General shall, after the close of business on the last working day of each financial year, or before the start of business on the first day of a financial year, appoint a Board of Surveys for each vote, to survey the assets of the vote, for the preceding financial year.
5. (5) The Board of Surveys shall comprise at least two public officers, none of whom shall have any direct responsibility for the assets to be surveyed.
6. (6) An Accounting Officer shall not pledge or otherwise encumber the land or any other asset of a Vote without the permission of Parliament.
7. (7) Where a vote requires to acquire an asset by lease or hire purchase or to acquire a used asset, the Accounting Officer shall, prior to acquiring the asset by lease or hire purchase or acquiring a used asset, obtain the authorization of the Secretary to the Treasury.
8. (8) The Accountant General shall issue guidelines for accounting for Government assets and for recording and reporting Government assets.

3 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Where the Minister seeks to abandon or remit any claim by or on behalf of the Government, or any service to the Government or to write off a loss of, or a deficiency in public money or public resources, the Minister shall seek the approval of Parliament.
2. (2) The approval referred to under subsection (1) shall be by a resolution of Parliament, which shall specify the amount authorised for each abandonment or write off and the total sum authorised to be written off or abandoned.
3. (3) Notwithstanding subsection (1), the Minister may, without the approval of Parliament, abandon and remit any claims by or on behalf of the Government, or any service to the Government and write off a loss of, or a deficiency in public money or public resources, where the amount of the loss or deficiency does not exceed ten million shillings.
4. (4) The Minister may surcharge a public officer for a loss of, or a deficiency in public money or public resources, not exceeding ten million shillings.
5. (5) The Minister shall, within three months after the end of a financial year table before Parliament a report detailing-
6. (a) the measures aimed at controlling the regularity and proper use of the money appropriated to a vote;
7. (b) the authorizations of commitments for a vote;
8. (c) the public officers surcharged for loss of, or a deficiency in public money or public resources.

2 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Subject to the Constitution, the authority to raise money by loan and to issue guarantees for and on behalf of the Government shall vest solely in the Minister and no other person, public corporation, state enterprise or local government council shall, without the prior approval of the Minister, raise any loan, issue any guarantee, or take any other action which may in any way either directly or indirectly result in a liability being incurred by the Government.
2. (2) For the purposes of subsection (1), the Minister may raise a loan-
3. (a) to finance a budget deficit;
4. (b) for the management of a monetary policy;
5. (c) to obtain foreign currency;
6. (d) for on-lending to an approved institution; or
7. (e) for defraying an expenditure which may lawfully be defrayed.
8. (3) The Minister may raise a loan by issuing Government bills, bonds or stock or using any other method the Minister may deem expedient, including a fluctuating overdraft.

3 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister may-
2. (a) repay any loan prior to the redemption date of that loan;
3. (b) convert the loan into any other loan; or
4. (c) consolidate two or more loans into an existing or new loan.
5. (2) For the purposes of subsection (1), the Minister shall where necessary, seek the approval of the lender and Parliament.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. The expenses of, and incidental to the raising of a loan and the issue or management of any money raised under section 36 shall be a charge on the Consolidated Fund, or if the Minister directs, shall be payable out of the principal money raised

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister, may, where he or she is satisfied that it is in the public interest, in the manner and on conditions he or she may think fit, with the approval of Parliament, on behalf of the Government, guarantee the repayment of the principal money and the payment of the interest and the other charges on a loan raised within or outside Uganda by-
2. (a) a state enterprise;
3. (b) a local government council;
4. (c) any entity other than a local government council, which is required to be audited by the Auditor General under an Act of Parliament; or
5. (d) a private sector entity.
6. (2) The Minister shall, prior to guaranteeing a loan under subsection (1) determine that-
7. (a) the intended purpose of the loan is consistent with government policy and is in public interest; and
8. (b) the borrowing entity is capable of servicing the loan.

4 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Where the Minister guarantees a loan under section 39, the state enterprise, local government council, other entity other than a local government council, which is required to be audited by the Auditor General under an Act of Parliament, or a private sector entity, for whose benefit that guarantee is given, shall reimburse the Government in the manner the Minister may direct.
2. (2) A reimbursement under subsection (1) shall include-
3. (a) the money the Government paid to fulfill the guarantee;
4. (b) the expenses the Government incurred in relation to the guarantee;
5. (c) the interest or service charge in relation to that sum or money paid by the Government; and
6. (d) any other expenses, incurred by Government, as the Minister may determine.
7. (3) The money received under this section shall be paid into the Consolidated Fund.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) interest on or in respect of any bond or stock issued under section 36(3) and in accordance with Schedule 4 to this Act; or
2. (c) a guarantee given under section 39.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister shall be responsible for the management of the public debt, guarantees, and any other financial liabilities of Government.
2. (2) The Minister shall, by 1st April, prepare and submit to Parliament a detailed report of the preceding financial year, on the management of the public debt, guarantees and the other financial liabilities of Government.
3. (3) The report shall indicate the management of the public debt, guarantees, and the other financial liabilities of Government against the National Development Plan, the objectives of the Charter for Fiscal Responsibility, and the medium-term debt management strategy.
4. (4) The Minister shall cause to be published, through the appropriate means, the report on the management of the public debt, guarantees, and the other financial liabilities of Government.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) All expenditure to be incurred by the Government on projects which are externally financed, in a financial year, shall be appropriated by Parliament.
2. (2) The Minister shall on the advice of the Accountant General, request the Auditor-General to issue a grant of credit in respect of loans and grants for services to be rendered during a financial year, where the funds are authorized by an Appropriation Act or a Supplementary Appropriation Act.
3. (3) Where a vote is to receive a loan or a grant for a proposed project, the Accounting Officer of the vote shall, in the budget of the vote, provide the costs and appraisal of the proposed project.
4. (4) A bank account of a project which is externally financed shall be managed in accordance with the terms and conditions as the Accountant-General may determine.
5. (5) The preparation and reporting of accounts of externally financed projects shall be in accordance with instructions issued by the Accountant General.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister shall receive the monetary grants made to Government or to a vote by a foreign government, international organization or any other person.
2. (2) A monetary grant received under subsection (1) shall be paid into the Consolidated Fund and once deposited, shall form part of the Consolidated Fund and shall be available for the purposes for which the monetary grant is intended.
3. (3) The Minister may grant an exception in writing from the requirements of subsections (1) and (2) where-
4. (a) it is in the public interest to do so; and
5. (b) the person responsible for the administration of the monetary grant informs the Minister of the purpose of the grant and the remittance, deposit, and domestic disbursement of the monetary grant before the grant is remitted.
6. (4) The Minister shall issue directives on the receipt, deposit and disbursement of a grant to be received under subsection (3).
7. (5) The Minister shall, every financial year table before Parliament a report of the grants received by Government or by a vote.

1. (1) An Accounting Officer shall-
2. (a) control the regularity and proper use of money appropriated to a vote;
3. (b) be responsible for authorizing any commitment made by a vote; and
4. (c) control the resources received, held or disposed of by or on account of a vote.
5. (2) In the exercise of the duties under this Act, an Accounting Officer shall, in respect of all resources and transactions of a vote, put in place effective systems of risk management, internal control and internal audit.
6. (3) An Accounting Officer shall enter into an annual budget performance contract with the Secretary to the Treasury which shall bind the Accounting Officer to deliver on the activities in the work plan of the vote for a financial year, submitted under section 13 (15).
7. (4) Where an Accounting Officer receives a subvention on behalf of another entity, the Accounting Officer shall remit the subvention to the entity in accordance with the approved cashflow plan for the subvention.
8. (5) An Accounting Officer shall be responsible and personally accountable to Parliament for the activities of a vote.

3 further items remain in the statutory text above.

1. (1) Subject to this Act, the Accountant-General shall be responsible for-
2. (a) the compilation and management of the accounts of votes;
3. (b) the custody and safety of public money;
4. (c) the resources of Government;
5. (d) the custody of all government certificates of titles for investments; and
6. (e) the maintenance of a register of government investments.
7. (2) For the purposes of subsection (1), the Accountant-General may give, to Accounting Officers, general instructions, guidelines and procedures, which are consistent with this Act and regulations made under this Act.
8. (3) The Accountant General shall, for every vote-

11 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) There is designated by the Public Service, an Internal Auditor General who shall be subject to the terms and conditions governing the Public Service.
2. (2) The Internal Auditor General shall-
3. (a) develop the internal audit strategy and supervise its implementation;
4. (b) develop internal audit policies, rules, standards, manuals, circulars and guidelines;
5. (c) review and consolidate audit reports from the votes and externally financed projects;
6. (d) liaise with the Auditor General, Accountant General, Accounting Officers and internal auditors on audit matters;
7. (e) consolidate the reports of all the audit committees on the respective votes;
8. (f) periodically evaluate the effectiveness of audit committees of the respective votes;

3 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every vote shall have an internal auditor.
2. (2) An internal auditor shall-
3. (a) appraise the soundness and application of the accounting, functional and operational controls of a vote;
4. (b) evaluate the effectiveness and contribute to the improvement of risk management processes of a vote; and
5. (c) provide assurance on the efficiency, and the effectiveness of the economy in the administration of the programmes and operations of a vote.
6. (3) In the performance of his or her duties, an internal auditor shall have unlimited access to information and property to be audited and shall be provided with all the required explanations.
7. (4) An internal auditor shall prepare an annual workplan of the activities to be performed by the internal auditor in a financial year which shall be determined by the fiscal risk of the vote.
8. (5) The internal auditor shall submit the workplan to the Accounting Officer officer of the votes, the audit committee specified in section 49, and a copy of the workplan to the Internal Auditor General.

4 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister shall establish an audit committee for each sector of Government and audit committees for a number of votes in local governments.
2. (2) An audit committee established under subsection (1) may serve more than one vote.
3. (3) A member of an audit committee shall not be a public officer.
4. (4) A member of an audit committee shall be appointed by the Minister on the recommendation of the Secretary to the Treasury.
5. (5) An audit committee shall-
6. (a) assist the accounting officer in carrying out the oversight responsibilities relating to financial practices, internal controls, corporate governance issues, compliance with laws, ethics and audit matters;
7. (b) review the arrangements established by the accounting officer for compliance with regulatory and financial reporting requirements;
8. (c) review the financial statements prepared by the accounting officer to ensure that the disclosure in the financial statements is adequate and that fair representation is achieved;

3 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) An Accounting Officer shall, prepare and submit half year financial statements to the Accountant General by 15th February of each financial year and shall submit such other reports within such time as the Accountant General may require.
2. (2) Where a financial statement makes a departure from the accounting standards, the departure shall be identified and explained in the disclosures in the financial statements.
3. (3) The Accountant General shall prepare and submit half year consolidated financial statements to the Secretary to the Treasury, by 15th March of each financial year.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) An Accounting Officer of a vote and an Accounting Officer of a local government, shall within two months after the end of each financial year, prepare and submit to the Auditor-General, and the Accountant-General, the accounts and information set out in paragraph 2 of Schedule 5 to this Act.
2. (2) The Accounting Officer of a public corporation shall, within two months after the end of each financial year, using the format prescribed by the Accountant-General, prepare and submit to the Accountant-General, a summary statement of financial performance of the public corporation and give a copy of the summary statement to the Secretary to the Treasury.
3. (3) The accounts submitted under this section shall-
4. (a) be prepared in accordance with generally accepted accounting practices and in accordance with instructions issued by the Accountant General;
5. (b) identify any significant departures from generally accepted accounting practice and state the reasons for the departures;
6. (c) state the basis of accounting used in the preparation of the accounts, identify any significant departures from that basis of accounting and the reasons for the departure; and
7. (d) state the action taken by the vote on the recommendations of Parliament on the report of the Auditor General.
8. (4) The Auditor General shall, in accordance with the National Audit Act, examine and audit the accounts submitted under this section.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Accountant General shall within three months after the end of each financial year prepare and submit to the Minister and the Auditor General the following consolidated accounts-
2. (a) the consolidated annual accounts of Government which shall include the accounts in paragraph 1 of Schedule 5 to this Act.
3. (b) the consolidated annual accounts of the local governments;
4. (c) the consolidated summary statement of the financial performance of public corporations state enterprises and Companies where Government has a controlling interest;
5. (d) the accounts of the Contingencies Fund; and
6. (e) the accounts of the Petroleum Fund.
7. (2) The Accountant General shall, for the accounts submitted under this section identify any defect, shortcoming or other factor which in his or her opinion affects, materially, the responsibility of the Minister under this Act.
8. (3) The Accountant General may introduce changes to the accounting or classification system and where changes are introduced, the Accountant General shall in the accounts provide justification for change and how the accounting system ensures that the public funds are properly accounted for.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister shall submit a Treasury memorandam to Parliament within six months from the date of Parliament's consideration of the report of the Auditor General in accordance with Article 163(5) of the Constitution.
2. (2) The Treasury memoranda shall indicate measures taken by each vote to implement the recommendations of Parliament in respect to the report of the Auditor General of the preceding financial year on the vote.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Accounting Officer of a vote to which section 24 applies, shall prepare the accounts of the vote in the format to be prescribed by the Accountant General.
2. (2) The Accounting Officer of a vote to which section 24 applies, shall submit the financial statements required under section 51 to the Minister, the Auditor General, and the Accountant General.
3. (3) The Auditor General shall, in accordance with the National Audit Act, examine and audit the accounts submitted under this section.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

This section states a single governing proposition and does not enumerate separate elements.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) There is established a fund to be known as the Petroleum Fund.
2. (2) The petroleum revenues, which accrue to Government, shall be paid into the Petroleum Fund.
3. (3) The Minister shall be responsible for the overall management of the Petroleum Fund and shall oversee the transfer into and the disbursements from the Petroleum Fund.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The petroleum revenue due to the Government shall be collected or received by the Uganda Revenue Authority.
2. (2) The petroleum revenue assessed as due each month, shall be paid by the seventh day of the following month by the person obliged to make the payment.
3. (3) Where a person does not make a payment by the date specified in subsection (2), the person shall pay as a penalty, a surcharge of seven percent of the amount in default for each day of default.
4. (4) Where Government accepts petroleum instead of cash, the value of the petroleum shall be calculated in an international and freely convertible currency, at the rate pertaining on the day the petroleum is to be received.
5. (5) The National Oil Company shall receive and record petroleum received as an asset of the Petroleum Fund, and shall submit a copy of the record to the Minister, Uganda Revenue Authority, the Secretary to the Treasury, the Accountant General and the Auditor General.
6. (6) Upon disposal of the petroleum received under subsection (4), the proceeds shall be collected by Uganda Revenue Authority and shall be remitted directly into the Petroleum Fund.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) to the Petroleum Revenue Investment Reserve, for investments to be undertaken in accordance with section 63.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The money withdrawn from the Petroleum Fund to the Consolidated Fund to support the annual budget shall not exceed the amount authorized by Parliament in the Appropriation Act.
2. (2) The money withdrawn from the Petroleum Fund to the Consolidated Fund shall, upon deposit, constitute an integral part of the Consolidated Fund and shall be governed by the provisions of this Act.
3. (3) For avoidance of doubt, petroleum revenue shall be used for the financing of infrastructure and development projects of Government and not the recurrent expenditure of Government.
4. (4) Any money that is authorized by Parliament in the Appropriation Act, but which is not withdrawn from the Petroleum Fund by the end of a financial year shall be retained in the Petroleum Fund.
5. (5) Money appropriated to the Consolidated Fund from the Petroleum Fund shall be withdrawn quarterly in accordance with the annual cashflow plan of Government.
6. (6) The balance if any, after a withdrawal under subsection (5) may in accordance with the annual cashflow plan of Government be invested by Bank of Uganda and the revenues and benefits shall be available at call.
7. (7) The balances invested under subsection (6) and any return on the investments shall be paid into the Petroleum Fund.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) submit semi-annual and annual financial statements to the Minister, Secretary to the Treasury and the Auditor General by the 15th of February and the 31st of August, respectively.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister shall-
2. (a) not later than 30th September, table before Parliament the estimated petroleum revenue for the financial year, which shall be based on the underlying assumptions including the projected production levels and the average price of petroleum and recommendations for the reconciliation and adjustments needed to account for any deviations so that the estimated inflows and outflows of the Petroleum Fund match the actual of the financial year; and
3. (b) for every financial year, table before Parliament, the semiannual and annual reports of the Petroleum Fund by 1st April and 31st December indicating-
4. (i) the amount transferred to the Consolidated Fund, for the preceding two financial years;
5. (ii) the actual inflows and outflows of the Petroleum Fund;
6. (iii) the volumes and values of the petroleum produced; and
7. (iv) the source of the petroleum revenue.
8. (2) The Minister shall cause to be published, the report specified in this section, in newspapers of wide circulation and make the report available on the website of the Ministry and that of related accounting office by 30th September.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Parliament shall for every financial year, appropriate money to be paid from the Petroleum Fund to the Petroleum Revenue Investment Reserve.
2. (2) The withdrawal of money from the Petroleum Fund to the Petroleum Revenue Investment Reserve, in a financial year, shall be by warrant of the Auditor General.
3. (3) The amount of money withdrawn from the Petroleum Fund to the Petroleum Revenue Investment Reserve, in a financial year shall not exceed the amount authorized by Parliament. except that any balance of money in the Petroleum Fund after appropriation to the Consolidated Fund shall be transferred to the Petroleum Revenue Investment Reserve.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The money of the Petroleum Revenue Investment Reserve shall be invested in accordance with the petroleum revenue investment policy issued by the Minister in consultation with the Secretary to the Treasury and on the advice of the Investment Advisory Committee.
2. (2) The investment policy shall include a requirement that investments under this section shall be undertaken in manner that does not jeopardise the macroeconomic stability of Uganda and that the money of the Petroleum Revenue Investment Reserve shall be invested in-
3. (a) an internationally convertible currency deposit or a debt instrument denominated in an internationally convertible currency that bears interest or a debt instrument of a fixed amount equivalent to interest;
4. (b) a debt instrument denominated in internationally convertible currency that bears interest or a debt instrument of a fixed amount equivalent to interest that is of an investment grade security; or
5. (c) any other qualifying instrument prescribed by the Minister.
6. (3) The Minister shall upon issuing an instrument under this section lay the same before Parliament.
7. (4) An instrument that ceases to be a qualifying instrument due to a change in the rating of the instrument, shall immediately or as soon as is practicable, be disposed off.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Bank of Uganda shall be responsible for the operational management of the Petroleum Revenue Investment Reserve.
2. (2) The operational management of the Petroleum Revenue Investment Reserve shall-
3. (a) be in accordance with the petroleum investment policy specified in section 63;
4. (b) be in accordance with the principles of portfolio management;
5. (c) maximise return without causing undue risk to the Petroleum Revenue Investment Reserve; and
6. (d) avoid prejudicing the reputation of Uganda as a responsible member of the world community.
7. (3) The Bank of Uganda shall manage the Petroleum Revenue Investment Reserve within the framework of a written agreement entered into between the Minister and the Governor of the Bank of Uganda for that purpose.
8. (4) The written agreement between the Minister and the Governor of the Bank of Uganda shall be based on the principles of transparency, accountability, intergenerational fairness and equity and shall-

13 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister may, in writing, issue policy guidelines to the Bank of Uganda regarding the expectations of the Government on the performance of the Petroleum Revenue Investment Reserve, including the expectations regarding risk and return.
2. (2) The Minister shall, within one month of issuing the policy guideline under subsection (1), table the policy guideline before Parliament.
3. (3) The Bank of Uganda shall notify the Minister on how the guideline is to be dealt with and shall in the annual report of the Bank of Uganda specified in section 72 indicate how the guideline was dealt with.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. There shall be an Investment Advisory Committee to advise the Minister on the investments made under the Petroleum Revenue Investment Reserve

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Investment Advisory Committee shall consist of the following seven members-
2. (a) a representative of the Ministry responsible for finance;
3. (b) a representative of the Ministry responsible for petroleum activities;
4. (c) a representative of the National Planning Authority; and
5. (d) four persons who shall not be public officers.
6. (2) The members of the Investment Advisory Committee shall be appointed by the minister who shall ensure that at least one half of the persons are of either gender.
7. (3) For avoidance of doubt, the chairperson of the committee shall not be a public officer.
8. (4) A member of the Investment Advisory Committee shall be a person with substantial experience, training, and expertise in financial investments, portfolio management or investment law.

7 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Investment Advisory Committee shall advise the Minister on-
2. (a) the petroleum investment policy of the Petroleum Revenue Investment Reserve and any amendments to it that the Petroleum Fund is to adhere to;
3. (b) comparable suitable benchmarks for the Petroleum Revenue Investment Reserve;
4. (c) the performance of the Petroleum Revenue Investment Reserve;
5. (d) the agreement with the Bank of Uganda for managing the Petroleum Revenue Investment Reserve; and
6. (e) any other matter on which the Minister may direct.
7. (2) The advice on the petroleum investment policy shall be subject to section 63 and shall include-
8. (a) the classes of investments in which the money of the Petroleum Revenue Investment Reserve may be invested and the selection criteria to be used to determine the investments within the classes;

12 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Bank of Uganda shall, using internationally recognised accounting standards, maintain proper books of accounts and records for the Petroleum Revenue Investment Reserve.
2. (2) The Bank of Uganda shall prepare and submit semi-annual and annual financial statements of the Petroleum Revenue Investment Reserve to the Minister with a copy to the Auditor General, the Secretary to Treasury and the Accountant General by 15th February and 31st August, respectively.
3. (3) The financial statements in subsection (2) shall be prepared in accordance with generally accepted accounting practices and where there are any deviations from the generally accepted accounting practices, the Bank of Uganda shall in the financial statements explain the deviations.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Bank of Uganda shall, not later than fifteen days after the end of each month, present to the Minister, a report on the performance and the activities of the Petroleum Revenue Investment Reserve.
2. (2) The Bank of Uganda shall not later than the 15th of February and the 15th of August of each year, publish reports on the performance and activities of the Petroleum Revenue Investment Reserve and shall make the reports publicly available on its website within one week of publication.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Bank of Uganda shall for each financial year prepare an annual plan for the Petroleum Revenue Investment Reserve and submit it to the Minister for approval.
2. (2) The annual plan of the Petroleum Revenue Investment Reserve shall-
3. (a) include a statement of the expectations of the Bank of Uganda on the performance of the Petroleum Revenue Investment Reserve in the financial year and for the next four subsequent financial years and how the expectations compare with the petroleum investment policy;
4. (b) include a statement of the key risks to the performance of the Petroleum Revenue Investment Reserve in the financial year and the actions taken by the Bank of Uganda to manage those risks;
5. (c) forecast financial performance of the Petroleum Revenue Investment Reserve for the financial year, including a statement of accounting policies; and
6. (d) include a long-term projection of the performance of the Petroleum Revenue Investment Reserve, covering not less than ten years and how the projection compares with the petroleum investment policy.
7. (3) The Minister shall submit to Parliament for approval the annual plan for the petroleum revenue investment reserve by 1st April before the beginning of the financial year to which it relates.
8. (4) The Bank of Uganda shall publish the annual plan of the Petroleum Revenue Investment Reserve on the website of the Bank of Uganda by the 31st of July and shall make it available to the public in printed form as soon as shall be practicable.

1 further item remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Bank of Uganda shall for each financial year, prepare the annual report of the Petroleum Revenue Investment Reserve and submit it to the Minister and the Auditor General, three months after the end of the financial year to which the annual report relates.
2. (2) The annual report shall indicate-
3. (a) the financial statements of the Petroleum Revenue Investment Reserve for the financial year;
4. (b) a statement of responsibility for the financial statements of the Petroleum Revenue Investment Reserve signed by the Governor of Bank of Uganda;
5. (c) the audit report on the financial statements;
6. (d) an analysis and explanation of the performance of the Petroleum Revenue Investment Reserve over the financial year and in the medium term, including a comparison of the performance of the Petroleum Revenue Investment Reserve with the expectations of the Bank of Uganda that are set out in the annual plan in relation to the financial year;
7. (e) a statement signed by the Governor of Bank of Uganda certifying whether or not the investment policies, standards, and procedures for the Petroleum Revenue Investment Reserve were complied with throughout the financial year;
8. (f) a schedule of the investment managers used by Bank of Uganda during the financial year and the classes of investments for which each was responsible; and

2 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Petroleum Fund and the Petroleum Revenue Investment Reserve shall be audited in accordance with the National Audit Act, 2008.
2. (2) The Auditor General shall examine and audit books of accounts and financial statements under sections 60 and 69 and submit a report to Parliament by 30th June and 31st December respectively.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The financial assets of the Petroleum Fund including present or future financial assets shall not be earmarked, pledged, committed, loaned out, or otherwise encumbered by any person or entity.
2. (2) In this section, "earmarked, pledged, committed, loaned out, or otherwise encumbered by any person or entity" means-
3. (a) using the financial assets of the Petroleum Fund-
4. (i) to provide credit to Government, or any other person or entity;
5. (ii) as collateral for debts, guarantees, commitments or other liabilities of any person or entity; or
6. (b) borrowing from the reserves of the Petroleum Fund.
7. (3) Government shall not-
8. (a) borrow money from the Petroleum Fund; or