Public Treasury (Administration and Payments) Amendment Act 2004
PUBLIC TREASURY (ADMINISTRATION AND PAYMENTS)
AMENDMENT ACT 2004

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BERMUDA
2004 : 9

PUBLIC TREASURY (ADMINISTRATION AND PAYMENTS)
AMENDMENT ACT 2004

[Date of Assent: 26 March 2004]

[Operative Date: 26 March 2004]

WHEREAS it is expedient to amend the Public Treasury
(Administration and Payments) Act 1969:

Be it enacted by The Queen's Most Excellent Majesty, by and
with the advice and consent of the Senate and the House of Assembly of
Bermuda, and by the authority of the same, as follows:

Short title
1 This Act may be cited as the Public Treasury (Administration and
Payments) Amendment Act 2004.

Insertion of section 10C
2 The Public Treasury (Administration and Payments) Act 1969 (in
this Act referred to as "the principal Act") is amended by inserting the
following section immediately after section 10B —

"Establishment of Government Reserves Fund
10C The Minister shall establish a Government Reserves
Fund into which he shall pay money set aside in the
Consolidated Fund arising from the termination of the relevant

PUBLIC TREASURY (ADMINISTRATION AND PAYMENTS)
AMENDMENT ACT 2004

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Agreements under the United States Bases (Termination of
Agreements) Act 2002.".

Insertion of section 11A
3 The principal Act is amended by inserting the following section
immediately after section 11 —

"Virements
11A (1) Subject to subsection (2), a Permanent Secretary or a
Head of Department may, after obtaining the approval of the
Minister, transfer part of the appropriated budget provisions,
between the Heads of Expenditure within a Ministry as
identified by the Appropriation Act for that financial year.

(2) The total sum appropriated against a Ministry shall
not be exceeded in the transfer referred to under subsection
(1).".

PUBLIC TREASURY (ADMINISTRATION AND PAYMENTS)
AMENDMENT ACT 2004

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