Published: 1977-03-15
Key Benefits:
Public Finance (Control and Audit)
© Government of Gibraltar (www.gibraltarlaws.gov.gi)
1977-09
PUBLIC FINANCE (CONTROL AND AUDIT) ACT
Principal Act
Act. No. 1977-09 Commencement 15.3.1977
Assent 15.3.1977
Amending
enactment
Relevant current provisions Commencement
date
LN. 1978/017 Sch. 1
Act. 1978-21 ss.10(1) and 16
LNs. 1978/117 Sch. 1
1980/103 Sch. 1
Act. 1982-05 ss.2, 6, 9, 10, 11, 12(1), 16(2), 18(2),
32(1), 42(1), 47(3), 55(2), 56(1), 57,
58, 60-64, 65(1), 75(2) and Sch. 1
LNs. 1987/176 s 12(e)(vii) 1.1.1988
Act. 1988-23 s. 12(e)(viii) 1.12.1988
LNs. 1988/054 s 12(e)(viii) 21.4.1988
1988/131 s 12(e) 1.12.1988
1989/047 Schedule 1 1.4.1989
Act. 1989-06 ss. 6(2), 23(2) and 23(1)(a)(b) 2.3.1989
1991-04 ss.18, 20 and 59 1.4.1990
LNs. 1991/118 s 12(e)(x) 1.4.1991
1992/030 s 12(e)(x) 1.1.1992
1992/062 s. 12(e)(xi) 1.4.1992
1993/163 s. 12(e)(xi) 1.4.1993
1993/171 s. 12(e)(xiii) 1.1.1994
1993/169 s. 12(e)(xii) 1.4.1993
1995/175 s. 75 1.1.1996
1997/045 s. 12(e) and Sch. 24.4.1997
Act. 1999-38 s 6(2)(b) & (c) 1.9.1991
LN. 2005/164 * s.12(e) & Sch. 1 8.12.2005
Act. 2007-17 ss. 3, 4(1), 5(1) & (2), 7(1), 8(2) & (3),
9(2), 10(1) & (2), 12, 13(1) & (2),
16(2), 17(1) & (2), 21(1) & (2), 22(1),
28(1) & (2), 29, 30(1), 32(1) 33(2), 35,
37(1), 38, 41, 42(1), (3) & (4), 44(2) &
(3), 45(1), 47(3)(d), 49, 50(1), 58,
65(1), 66, 67, 68(1) & (2), 69, 71,
74(1), 75(3),
14.6.2007
LN. 2007/118 Corrigendum
Act. 2008-17 ss. 2, 7(1), 28(1) & (3), 33(2), 41 &
* Corrigendum published see LN. 2007/118
Public Finance (Control and Audit)
© Government of Gibraltar (www.gibraltarlaws.gov.gi)
1977-09
44(2) 13.11.2008
2009-51 ss. 76 - 82 1.12.2009
2011-02 1 ss. 17A to 17D 1.4.2009
“ ss. 18(3) & (4), 19(1), 20(d), 23(1) &
(2), 52(1), 62, 63, 64, 70(1) & (2),
74(1) & Sch. 3
10.2.2011
LN. 2011/062 Sch. 3 12.5.2011
EU Legislation/International Agreements involved:
Directive 2006/111/EC
English sources
None Cited
1 Any expenditure funded out of revenue to which clause 2 applies incurred prior to the
commencement of this Act and the coming into operation of new sections 17A to 17D of the
Principal Act, or to be incurred prior to the 1 st of April 2011, for a use and in a manner
that would have been lawful but for this Act shall be deemed to have been appropriated by
Parliament to those uses and this Act shall constitute an appropriation law of all such
expenditure which shall thus be deemed to have been authorised and prescribed by this
Act.
Public Finance (Control and Audit)
© Government of Gibraltar (www.gibraltarlaws.gov.gi)
1977-09
Previous number New number Remarks
1-9 Unchanged
9A 10
9b 11
10 12
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Public Finance (Control and Audit)
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1977-09
52 54
53 55
54 Repealed
55 56
56 57
57 58
58 59
59 Repealed
60 Repealed
61 Repealed
62 60
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First Schedule Schedule 1
Second Schedule Schedule 2
Public Finance (Control and Audit)
© Government of Gibraltar (www.gibraltarlaws.gov.gi)
1977-09
ARRANGEMENT OF SECTIONS.
PART I.–PRELIMINARY AND GENERAL.
Section
1. Short title.
2. Interpretation.
3. Minister responsible for finance to have the management
Consolidated Fund and Improvement and Development Fund.
4. Authorization of expenditure.
PART II.–THE CONSOLIDATED FUND.
5. Custody and investment of moneys accounted for in the
Consolidated Fund.
6. Statutory payments.
7. Authorization of expenditure in advance of appropriation under
section 70 of the Constitution.
8. Borrowing powers.
9. Guarantees.
10. Guarantees for supplier finance.
11. Payments under guarantees.
12. Advances.
13. Imprests.
14. Refunds, etc.
15. Erroneous receipts.
16. Limitation as to trusts.
17. Receivers of revenue.
PART IIA – REVENUE OF PUBLIC UNDERTAKINGS
17A. Revenue of certain public undertakings to be paid into Consolidated
Fund.
17B.
17C.
17D.
PART III.–SPECIAL FUNDS.
18. Special Funds.
19. Regulations for Special Funds.
20. Revenue of Special Funds.
21. Investment of moneys in Special Funds.
22. Accounts and balances of Special Funds.
23. Dissolution of Special Funds.
Public Finance (Control and Audit)
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1977-09
PART IV.–THE IMPROVEMENT AND DEVELOPMENT FUND.
24. Interpretation.
25. The Fund not part of the Consolidated Fund.
26. Revenue of the Fund.
27. Use of the Fund.
28. Annual estimates of the Fund. .
29. Supplementary estimates.
30. authorization of expenditure in advance of appropriation.
31. Conditions attached to grants or loans.
32. Development warrant.
33. Re-allocation.
34. Accounts and audit.
35. Investment of moneys accounted for in the improvement and
Development Fund.
PART V.–DEPOSITS.
36. Deposits.
37. Investment of deposits.
38. Deposits may be used to finance advances.
39. Unclaimed deposits.
40. Accountant General to administer deposits.
PART VI.–ESTIMATES AND SUPPLY.
41. Annual Estimates.
42. Controlling officers.
43. Disbursement of and accounting for expenditure on Consolidated
Fund Services.
44. Contingencies Fund.
45. Re-allocation.
PART VII.–ACCOUNTING OFFICERS AND ACCOUNTS.
46. Accountant General.
47. Powers and duties of Accountant General.
48. Duties of accounting officers.
49. Accounting officers not permitted to open bank accounts.
50. Overdrafts on public or official bank accounts.
51. All public moneys to be accounted for in the public accounts of
Gibraltar.
52. Annual Accounts.
53. Annual accounts of Special Funds.
54. Valuation of assets, etc.
PART VIII.–THE PRINCIPAL AUDITOR.
Public Finance (Control and Audit)
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1977-09
55. Office of Principal Auditor.
56. Powers of Principal Auditor.
57. Nature of audit.
58. Notification of irregularities.
59. Delegation.
PART IX.–EXAMINATION AND AUDIT OF THE
ACCOUNTS OF CORPORATE AND SIMILAR BODIES.
60. Application of Part IX.
61. Power of Principal Auditor to audit.
62. Reports on accounts of statutory and other bodies.
63. Observations of bodies corporate, etc. on reports of the Principal
Auditor to be obtained.
64. Reports on accounts of statutory and other bodies to be laid before
the Parliament.
65. Audit fees.
PART X.–ABANDONMENT OF CLAIMS, WRITE-OFFS
AND SURCHARGE. ,
66. Abandonment of claims and write-off.
67. Disposal of surplus stores to certain organizations.
68. Surcharge.
69. Notification of surcharge.
70. Appeal against surcharge.
71. Withdrawal of surcharge.
72. Recovery of surcharge.
73. Surcharge to be a debt to the Government.
PART XI.–REGULATIONS.
74. Regulations by the Minister responsible for finance.
75. Public procurement.
PART XII–FINANCIAL RELATIONS BETWEEN THE GOVERNMENT
AND PUBLIC UNDERTAKINGS
76. Interpretation of Part.
77. Transparency of financial relations.
78. Application of section 77.
79. Maintenance of separate accounts.
80. Exemptions.
81. Supply of information to the European Commission concerning the
information referred to in section 77.
82. Public undertakings in the manufacturing sector.
Public Finance (Control and Audit)
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1977-09
SCHEDULE 1.
Special Funds.
SCHEDULE 2.
Purposes for which the improvement and Development Fund may be
applied.
SCHEDULE 3.
Public Finance (Control and Audit)
© Government of Gibraltar (www.gibraltarlaws.gov.gi)
1977-09
Public Finance (Control and Audit)
© Government of Gibraltar (www.gibraltarlaws.gov.gi)
1977-09
AN ACT TO PROVIDE FOR THE MANAGEMENT AND CONTROL OF
THE PUBLIC FINANCES OF GIBRALTAR, FOR FINANCIAL AND
ACCOUNTING PROCEDURES, FOR THE AUDIT OF PUBLIC
ACCOUNT AND THE ACCOUNTS OF CERTAIN STATUTORY AND
OTHER CORPORATE BODIES AND FOR MATTERS CONNECTED
THEREWITH AND INCIDENTAL THERETO.
PART I.–PRELIMINARY AND GENERAL.
Short title.
1. This Act may be cited as the Public Finance (Control and Audit) Act.
Interpretation.
2. In this Act, unless the context otherwise requires,–
“accounting officer” means any public officer who is concerned or
entrusted with or responsible for–
(i) the collection, receipt, custody, issue or payment of
public moneys;
(ii) the receipt, custody, issue, sale, transfer or disposal of, or
the accounting for, any stamps, securities, stores or any
other Government property of whatsoever kind;
(iii) any monetary or financial responsibilities connected with
or arising from his official duty,
and includes a receiver of revenue and a controlling officer appointed in
accordance respectively with section 17 or 42;
“appropriation law” means the law enacted in respect of each financial
year to provide for the issue from the Consolidated Fund and from
the Improvement and Development Fund of the sums necessary to
meet expenditure (other than expenditure charged upon the
Consolidated Fund by the Constitution or any other law) in that
year and includes any supplementary appropriation law;
“Consolidated Fund” means the Consolidated Fund Established by
section 67 of the Constitution;
“Consolidated Fund Services” means the services of the Government of
Gibraltar the expenditure on which is charged on or payable out of
the Consolidated Fund under the Constitution or any other law
other than an appropriation law but including this Act;
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“Improvement and Development Fund” means the special fund
designated the Improvement and Development Fund in Schedule I;
“public moneys” means all revenue, grants, loans, trust and other moneys
raised or received by or on account of the Government and all
stamps, bonds or debentures and other securities whatsoever held
by or on account of the Government and includes moneys received
or held whether on trust or otherwise, and whether temporarily or
otherwise, by any public officer in his official capacity either alone
or jointly with any other person, whether a public officer or not, for
purposes other than the purposes of the Government;
“public stores” means all chattels of whatsoever nature the property of or
in the possession or under the control of the Government;
“revenue” means all tolls, taxes, imposts, rates, duties, fines, fees,
penalties, rents and dues and all other receipts of the Government
from whatsoever source arising’
“written law” means any written law for the time being in force in
Gibraltar.
Minister responsible for finance to have the management of
Consolidated Fund and Improvement and Development Fund.
3. The Minister responsible for finance shall so supervise the finances of the
Government as to ensure that a full account thereof is made to the
Parliament and for such purposes shall, subject to the provisions of the
Constitution and of this Act, have the management of the Consolidated
Fund and the Improvement and Development Fund and the control and
direction of all matters relating to the financial affairs of the Government.
Authorisation of expenditure.
4.(1) On the coming into force of an appropriation law the Financial
Secretary shall by general warrant under his hand authorize the Accountant
General –
(i) to pay out of the Consolidated Fund such sums as may be
required to meet expenditure chargeable upon the
Consolidated Fund under such law; and
(ii) subject to the provisions of Part IV to pay out of the
Improvement and Development Fund such sums as may
be required to meet expenditure chargeable upon the
improvement and Development Fund under such law:
Public Finance (Control and Audit)
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Provided that it shall be within the discretion of the Minister responsible for
finance to limit or suspend at any time any expenditure so chargeable under
an appropriation law if in his opinion the public interest so requires.
(2) Every appropriation by the Parliament of public moneys for the
service of a financial year and every general warrant issued under this
section shall lapse and cease to be of any effect at the close of that year.
PART II.–THE CONSOLIDATED FUND.
Custody and investment of moneys accounted for in the Consolidated
Fund.
5.(1) All sums accounted for in the Consolidated Fund shall be kept with
such bank or banks as the Financial Secretary shall from time to time direct
or with the Crown Agents.
(2) The Financial Secretary may authorize the investment of moneys
forming part of the Consolidated Fund–
(a) with any bank either at call or subject to notice not exceeding
twelve months or with the Crown Agents;
(b) in any of the investments authorized by any written law for the
investment of trust funds;
(c) in any joint fund maintained by the Crown Agents;
(d) as otherwise authorized by any written law or by resolution of
the Parliament, and such investments, together with any
interest received therefrom, shall form part of the Consolidated
Fund.
Statutory payments.
6.(1) The Accountant General shall pay out of the Consolidated Fund such
sums coming in course of payment during a financial year as are required to
meet expenditure charged upon the Fund by the Constitution or by any other
written law.
(2) The sums payable by Government as an employer–
(a) in pursuance of the provisions of any Act;
(b) in respect of the transfer value of the pension rights of the
former public officers;
Public Finance (Control and Audit)
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1977-09
(c) in respect of the pension rights of any former public officer,
frozen as if there had been no qualifying period for the grant of
a pension under Regulation 4(1) and (3) of the Pensions Act by
virtue of an agreement between the Government and the officer
when that officer left the Government service, and augmented
by corresponding increases in the Index of Retail Prices–
(i) on his retirement from his subsequent employment as
from the age of 55 years; or
(ii) on retirement from that employment at any time on
medical grounds; or
(iii) on death occurring before that officer reaches the age of
retirement under the Pensions Act.
shall be a charge upon the Consolidated Fund.
Authorisation of expenditure in advance of appropriation under section
70 of the Constitution.
7.(1) Where the Minister responsible for finance authorizes the
withdrawal of moneys from the Consolidated Fund under the provisions of
section 70 of the Constitution the sum or sums so authorized and withdrawn
in respect of any service of the Government shall not exceed one third of the
sum specified for such service in the Estimates presented for the current
financial year, or, if the estimates have not been presented, one third of the
sums provided therefor in the appropriation law for the financial year
immediately preceding such current year.
(2) Any sums withdrawn from the Consolidated Fund under the
provisions of subsection (1) shall be set off against the amount authorized
by the appropriation law for the current financial year upon the coming into
operation of such law.
Borrowing powers.
8.(1) Except as is otherwise provided in this section the Government shall
not borrow money except in accordance with the provisions of a written law.
(2) The Government acting by the Financial Secretary with the consent
of the Minister responsible for finance may borrow by means of advances
from a bank or from the Crown Agents such sum or sums as he may require
to meet expenditure which lawfully may be defrayed for the service of a
financial year:
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1977-09
Provided that the total of any such sum or sums so borrowed in any financial
year shall not exceed five per cent of the total sum appropriated by law out
of the Consolidated Fund in that year.
(3) The power to borrow money conferred by any general or specific law
and the power to borrow conferred on the Government acting by the
Financial Secretary with the consent of the Minister responsible for finance
by subsection (2) may be exercised by means of a fluctuating overdraft.
(4) Repayment of the principal sum of and payment of all interest and
other charges on all money borrowed under this section is hereby charged
upon and shall be paid out of the Consolidated Fund without further
appropriation than this Act.
(5) A statement giving details of any sum or sums borrowed under the
powers conferred by subsection (2) shall be laid before the Parliament as
soon as may be practicable after the end of each quarter of the financial year.
Guarantees.
9.(1) No guarantee involving a financial liability shall bind the
Government unless such guarantee is given –
(a) in accordance with the provisions of any law; or
(b) in accordance with subsection (2).
(2) Where he has been authorized to do so by a resolution of the
Parliament, the Minister responsible for finance may in writing in the name
of and on behalf of the Government give a guarantee to any person or
persons, involving a financial liability, and a guarantee so given shall be
binding on the Government.
Guarantees for supplier finance.
10.(1) The Financial Secretary, for the purpose of any agreement for the
Government’s obtaining any goods or services wholly or partly on supplier
finance terms or on extended payment terms in respect of any service
included in the Estimates presented for the current financial year, may in
writing, in the name of and on behalf of the Government, give to any person
or persons a guarantee for the repayment of that credit, and a guarantee so
given shall be binding on the Government.
(2) Where the Minister responsible for finance gives any guarantee
under subsection (I), he shall lay on the table of the Parliament a copy of the
agreement in respect of which it has been given, and a copy of the
guarantee, at the earliest opportunity after it has been given.
Public Finance (Control and Audit)
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1977-09
Payments under guarantees.
11. All money that becomes payable by the Government under any
guarantee given under section 9 or section 10 is hereby charged upon and
shall be paid out of the Consolidated Fund without further appropriation
than this Act.
Advances.
12. Subject to the provisions of this section, the Financial Secretary may, by
advance warrant under his hand, authorize the Accountant General to make
disbursements of moneys forming part of the Consolidated Fund or of other
public moneys for the purpose of making advances–
(a) on behalf of, and recoverable from, other Governments,
administrations, public corporations or institutions;
(b) to meet expenditure authorized by any loan Act in anticipation
of the receipt of any installment of the loan authorized by such
Act;
(c) in accordance with any specific agreement, to agents appointed
by the Government to perform functions on its behalf;
(d) to public officers for such purposes and on such terms and
conditions as may be prescribed from time to time by General
Orders or Financial Regulations or in such circumstances as the
Financial Secretary may approve;
(e) (i) the Improvement and Development Fund
(ii) the Short Term Benefits Fund
(iii) the Closed Long-Term Benefits Fund
(iv) the Open Long-Term Benefits Fund
(v) any other Special Fund where such advances are
recoverable before the close of the financial year in
which the advance is made.
(f) to the Director of Labour and Social Security for use by him in
such cases as may be prescribed by Financial Regulations.
Imprests.
Public Finance (Control and Audit)
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1977-09
13.(1) The Financial Secretary may by imprest warrant under his hand
authorize the Accountant General to issue moneys from the Consolidated
Fund by way of imprests to public officers for any purpose specified in
General Orders or Financial Regulations.
(2) Every public officer to whom an imprest has been issued shall
account for and retire such imprest not later than the last business day of the
financial year in which it was issued unless the imprest warrant otherwise
requires or unless the Financial Secretary otherwise directs.
(3) Where any public officer to whom an imprest has been issued fails to
account for and retire such imprest as provided by subsection (2), the
Accountant General shall forthwith recover the amount of the imprest by
deduction from the salary or other emoluments of such public officer.
Refunds, etc.
14. Where any written law provides for the payment of any refund, rebate or
drawback in respect of money paid to the Government the amount of such
refund, rebate or drawback as the case may be shall where such money has
been paid into the Consolidated Fund, be charged on that Fund without
appropriation.
Erroneous receipts.
15. Where any moneys have been received in error in the Consolidated Fund
the Accountant General may authorize the repayment from the Fund of such
moneys.
Limitation as to trusts.
16.(1) Nothing in this Act shall extend to abridge or alter the terms of any
trust or shall be construed as authorizing the making of any regulations or
the giving of any directions or instructions requiring any person to obey such
regulations, directions or instructions in relation to moneys held on trust
which contravene or are inconsistent with the terms of such trust.
(2) Except as otherwise provided in any written law, no public officer
shall accept appointment in his official capacity as a trustee without the
written authority of the Financial Secretary and any appointment contrary to
this section shall be void.
Receivers of revenue.
17.(1) The Financial Secretary shall appoint in respect of each item of
revenue for any financial year a receiver of revenue for the collection of and,
subject to the provisions of this Act and any regulations made or instructions
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issued thereunder, for the accounting for all moneys received for the credit
of such item.
(2) A public officer designated by the title of his office in the annual
estimates of revenue for any financial year to be the receiver of revenue in
respect of any item of revenue shall be deemed for the purpose of subsection
(1) to have been appointed by the Financial Secretary and such designation
shall constitute sufficient notification of the appointment.
PART IIA – REVENUE OF PUBLIC UNDERTAKINGS
Revenue of certain public undertakings to be paid into Consolidated
Fund.
17A. Notwithstanding any provision of any other enactment to the
contrary but subject to section 17C below the revenues of the public
undertakings listed in Schedule 3 shall constitute revenue of and be paid into
the Consolidated Fund.
17B. The Minister may by Legal Notice published in the Gazette add
public undertakings to and remove public undertakings from Schedule 3.
17C. Subject to section 17D any revenue of a public undertaking listed in
Schedule 3 which has been paid to it from funds voted out of the
Consolidated Fund shall not be deemed to constitute the revenue of the
Consolidated Fund for any purpose.
17D. All expenditure incurred by a public undertaking listed in Schedule
3, including expenditure funded out of monies paid to it from funds voted
from the Consolidated Fund and to which section 17C thus applies, shall
require to be authorised by an appropriation law and the provisions of
sections 68, 69 and 70 of the Constitution shall apply thereto mutatis
mutandis as if the revenue and expenditure of such undertaking were the
revenue and expenditure of Gibraltar.
PART III.–SPECIAL FUNDS,
Special Funds.
18.(1) The funds specified in Schedule 1 shall be special funds.
(2) Every sinking fund provided for in a written law authorizing the
Government to borrow any money shall be a special fund.
(3) The Minister responsible for finance may by notice in the Gazette–
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(a) declare any fund established under any written law to be a
special fund; and
(b) establish such other special funds as he may consider necessary
and expedient,
and upon publication of any such notice any special fund specified therein
shall be added to Schedule 1.
(4) The Minister responsible for finance may in any notice declaring or
establishing a special fund, or, in a subsequent notice, direct that such
special fund shall be a fund to which advances may be made under section
12(1) and such fund shall be included in paragraph (e) of that subsection.
Regulations for Special Funds.
19.(1) The Minister responsible for finance may make regulations for the
purposes for which a special fund may be used, for the manner in which
such fund shall be administered and for the appointment of a controlling
officer to control and account for such fund.
(2) Any regulations made under subsection (1) shall–
(a) in the case of a special fund established under any written law
be in addition to and not in conflict with the provisions of the
law establishing such fund; and
(b) in the case of a special fund consisting in whole or in part of
moneys arising from any gift, trust or bequest be in addition to
and not inconsistent with the wishes, expressed or implied, of
the donor or testator as the case may be.
(3) The provisions of this section shall not apply to the improvement
and Development fund.
Revenues of Special Funds.
20. Notwithstanding the provisions of any other Act, the revenue of a
special fund established under any written law or under the privisions of
section 18(3)(b) shall, in addition to any monies which may accumulate
thereto pursuant to such law, consist of–
(a) any monies appropriated thereto by the Parliament;
(b) any interest or dividend which may accrue from any deposit or
investment of monies forming part of such fund;
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1977-09
(c) any monies being revenue or other monies raised or received or
arising from the operation of the undertaking to which the fund
relates;
(d) any monies declared by the Minister responsible for finance to
form part of such fund; and
(e) any monies transferred to the fund from any other special fund.
Investment of moneys in Special Funds.
21.(1) Subject to the provisions of this Act and any other written law the
Financial Secretary may authorize the investment of moneys standing to the
credit of a special fund, and not for the time being required for the purposes
of that fund, in like manner to that permitted by section 5(2) in respect of the
Consolidated Fund.
(2) The Financial Secretary may, in respect of a special fund other than
the Improvement and Development Fund, delegate to the Accountant
General or to the Controlling Officer of that fund by writing under his hand
the powers conferred upon him by subsection (1).
Accounts and balances of Special Funds.
22.(1) A special fund shall be kept in a separate account by the Accountant
General or, where under any law or by virtue of regulations made under
section 19 some other public officer is appointed by the controlling officer,
by that other public officer:
Provided that it shall be lawful for the Accountant General with the consent
of the Financial Secretary to keep the account on behalf of such other public
officer.
(2) A special fund shall not form part of the Consolidated Fund and
neither the receipts nor accruals of a special fund nor any balance of moneys
standing to the credit of a special fund at the close of a financial year shall
be paid into the Consolidated Fund but shall be retained in that fund for the
purposes of such fund.
Dissolution of Special Funds.
23.(1) Subject to the provisions of section 16 if–
(a) the moneys in a special fund are exhausted and no legal
provision exists whereby any further moneys may be paid into
the fund; or
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(b) the purposes for which a special fund was established are
fulfilled or cease to exist and in the opinion of the Minister
responsible for finance there is no likelihood that any purposes
for which such fund could be lawfully used will arise in future,
the Governor may, by notice, dissolve such fund.
(2) Any money or other assets remaining in a special fund dissolved
under subsection (1)(b) shall as the Minister responsible for finance may
direct into or transferred to the Consolidated Fund or into or to a Special
Fund established by or in pursuance of this Act.
PART IV.–THE IMPROVEMENT AND DEVELOPMENT FUND.
Interpretation.
24. In this Part–
“development project” means any one of the purposes or any
combination of the purposes specified in Schedule 2;
“the Fund” means the special fund designated as the improvement and
Development fund in schedule 1.
The Fund not part of the Consolidated Fund.
25. The Fund shall not form part of the Consolidated Fund and shall be kept
in a separate account by the Accountant General.
Revenue of the Fund.
26. There shall be paid into the Fund and the Fund shall consist of–
(a) all such moneys as may from time to time be appropriated by
written law out of the Consolidated Fund for the purposes of
the Fund.
(b) all moneys received from time to time by way of grants and
loans from Her Majesty’s Government in the United Kingdom
in aid of a development project;
(c) all moneys received from any other Government or from any
international organization, or from any institution, body or
person for a development project or generally for the purposes
of the Fund;
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(d) all moneys received from the proceeds of loans raised by or on
behalf of the Government for a development project or
generally for the purposes of the Fund;
(e) all moneys received from the proceeds of the sale of any land
belonging to the Government; and
(f) all moneys received by way of interest or dividend on any
investment or loan of moneys belonging to the Fund.
Use of the Fund.
27. No provision shall be made for expenditure to be charged on the Fund
other than for the purpose of a development project.
Annual estimates of the Fund.
28.(1) The Minister responsible for finance shall cause to be prepared and
laid before the Parliament, before or not later than thirty days after the
commencement of each financial year estimates of the revenue and
expenditure of the Fund for that year and such estimates shall form part of
the annual estimates of the Government to be laid before the Parliament in
accordance with the provisions of section 69(1) of the Constitution.
(2) The estimates shall be in such form as the Minister responsible for
finance may from time to time direct:
Provided that the estimates of expenditure shall–
(a) conform with the requirements of proviso (b) to section 41; and
(b) show in respect of each development project for which
provision is made therein–
(i) the total estimated cost of the project; and
(ii) the revised estimate of expenditure on the project in the
preceding financial year and amount expended in
previous financial years.
(3) The heads of expenditure contained in the estimates of the Fund for a
financial year shall be included in the Appropriation Bill introduced in the
Parliament in accordance with the provisions of section 69(2) of the
Constitution to provide for the issue from the Fund of the sums necessary to
meet that expenditure and for the appropriation of those sums for the
purposes specified in the Bill.
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Supplementary estimates.
29. If in the course of any financial year it is found–
(a) that the amount appropriated by the appropriation law for any
development project in any head of expenditure is insufficient;
or
(b) that a need has arisen to proceed with a development project
for which no amount has been appropriated by the
appropriation law, the Minister responsible for finance shall
cause a supplementary estimate substantially in the form
prescribed by section 28 of the sums required to meet such
deficiency or such need to be prepared and laid before the
Parliament and the heads of expenditure shall be included in a
supplementary Appropriation Bill to be introduced in the
Parliament to provide for the appropriation of those sums.
Authorisation of expenditure in advance of appropriation.
30.(1) If the appropriation law in respect of any financial year has not come
into operation by the commencement of that financial year, the Minister
responsible for finance shall by warrant under his hand authorize the
withdrawal of moneys from the Fund for the purpose of meeting expenditure
necessary to carry on the development projects of the Government until the
expiration of four months from the commencement of that financial year or
the coming into operation of the appropriation law whichever is the earlier:
Provided that no such withdrawal shall be authorized in respect of a
development project, which is not specified in the estimates of the Fund
presented for the current financial year, or if the estimates have not been
presented, in respect of a development project provided for in an
appropriation law of the financial year immediately preceding such current
year.
(2) The amount of any moneys so authorized and withdrawn from the
Fund shall be set off against the expenditure authorized by the appropriation
law for the current financial year on the coming into operation of such law.
Conditions attached to grants or loans.
31. Any conditions which may be attached to any grant or loan of moneys
forming part of the Fund shall be observed and shall have effect in relation
to the moneys so granted or loaned as if the same were prescribed by this
Act.
Development warrant.
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32.(1) Subject to the provisions of sections 27 and 31, and of this section, if
in the course of any financial year the circumstances described in section 29
arise and in the opinion of the Minister responsible for finance expenditure
on a development project is so urgent that it cannot without serious
detriment to the public interest be deferred until adequate financial provision
can be made for it by the Parliament–
(a) in respect of a development project which has not been
specified in the estimates of the Fund presented for any
financial year, the Minister responsible for finance may by
development warrant under his hand and in anticipation of the
grant of an appropriation by the Parliament authorize an
advance from the Fund not exceeding one hundred thousand
pounds or the estimated total cost of the development project,
whichever is the lesser amount; and
(b) in respect of a development project which has been specified in
the estimates of the Fund for any financial year, the Minister
responsible for finance may by a development warrant under
his hand and in anticipation of the grant of an appropriation by
the Parliament authorize an advance from the Fund not
exceeding–
(i) thirty thousand pounds; or
(ii) ten per cent of the estimated total cost of the
development as shown in the estimates of the Fund
presented for the current financial year; or
(iii) the balance required to complete expenditure of the
estimated total cost of the development project as shown
in the estimates of the Fund presented for the current
financial year–
whichever is the greatest amount.
(2) Where any advance is made from the Fund under subsection (1) a
supplementary estimate substantially in the form prescribed by section 28 of
the sum required for the development project for the purpose of which the
advance was made, shall be laid before the Parliament and an Appropriation
Bill shall be introduced therein as soon as possible to provide for the
appropriation of that sum.
(3) Upon the grant of an appropriation by the Parliament to provide for
expenditure on the development project in respect of which the advance was
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made, the development warrant shall cease to have effect and the sum
advanced shall be set off against the amount appropriated for that project.
Re-allocation.
33.(1) No surplus arising on any development project financed wholly or
partly by moneys received by the Fund under section 26(b)(c) or (d) shall be
applied in aid of any other development project unless–
(a) in the case of the moneys specified in paragraph (b) of that
section the prior consent of Her Majesty’s Government in the
United Kingdom has been obtained;
(b) in the case of the moneys specified in paragraph (c) of that
section the prior consent of the international organization, or
the institution, body or person concerned as the case may be,
has been obtained, or the moneys were received generally for
the purposes of the Fund; or
(c) in the case of moneys specified in paragraph (d) of that section,
such moneys have been raised generally for the purposes of the
fund.
(2) Subject to the provisions of subsection (1) the Minister responsible
for finance, if it appears to him to be necessary to do so, may by means of a
warrant under his hand re-allocate moneys between one development project
and another of the same head of expenditure if he is satisfied that further
provision is needed for the development project to which moneys are to be
re-allocated and that there is, or is likely to be, a surplus in respect of the
development project from which the moneys are to be allocated.
(3) Any warrant issued in accordance with subsection (2) shall be laid
before the Parliament at the earliest opportunity.
Accounts and audit.
34. The accounts of the Fund shall be audited, certified and reported on
annually by the Principal Auditor
Investment of moneys accounted for in the Improvement and
Development Fund.
35. Subject to–
(a) any conditions which may from time to time be made by Her
Majesty’s Government in the United Kingdom in relation to
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moneys made available to the Government of Gibraltar by way
of grants or loans in aid of development projects;
(b) any conditions which may be attached by any other
Government, institution, body or person to the grant or loan of
moneys for the purpose of any development project or
generally for the purposes of the Fund; and
(c) such restrictions or limitations as may be imposed by any
regulations made under the provisions of section 74,
the Financial Secretary may authorize the investment of moneys accounted
for in the Fund and which are not required for immediate use for the purpose
of a development project in like manner to that provided by section 5(2) in
respect of the Consolidated Fund.
PART V.–DEPOSITS.
Deposits.
36. Any moneys not being moneys raised or received for the purposes of the
Government, which may be deposited with the Accountant General or with
any other public officer authorized by the Accountant General or by
regulations made under this Act to receive the same (such moneys being
hereinafter referred to as deposits), shall not form part of the Consolidated
Fund and except as provided in this Part shall not be applied in any way for
the purpose of the Government.
Investment of deposits.
37.(1) The Financial Secretary may authorize the investment of deposits in
like manner to that permitted by section 5(2) in respect of the Consolidated
Fund.
(2) Any interest or dividend received in respect of deposits invested in
accordance with subsection (1) shall be paid into the Consolidated Fund.
(3) Section 54 shall apply to any investments made on account of
deposits and, for the purpose only of any adjustment which may have to be
effected in accordance therewith, such investments shall be regarded as
being held for account of the Consolidated Fund.
Deposits may be used to finance advances.
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38. The Financial Secretary may authorize the Accountant General to apply
deposits towards the making of advances for any of the purposes specified in
section 12;
Provided that deposits shall not be so applied where the advance in question
is only repayable or recoverable whether in full or in part after the close of
the financial year in which it is made.
Unclaimed deposits.
39. Any deposit which is unclaimed for five years shall be paid into the
Consolidated Fund for the purposes of the Government :
Provided that if any person entitled thereto shall subsequently prove to the
satisfaction of the Accountant General his claim to any such deposit, the
Accountant General shall thereupon refund to such person his deposit out of
the Consolidated Fund.
Accountant General to administer deposits.
40. Subject to the provisions of this Part, the Accountant General is hereby
authorized to administer and, in appropriate cases, to refund deposits to the
person or persons entitled to them.
PART VI.–ESTIMATES AND SUPPLY.
Annual estimates.
41. The estimates of the revenue and expenditure of the Government in
respect of each financial year laid before the Parliament in accordance with
the provisions of section 69 of the Constitution shall be in such form as the
Minister responsible for finance may from time to time determine :
Provided that–
(a) the estimates of expenditure on the Consolidated Fund services
shall show the sums to be issued from the Consolidated Fund
to meet the expenditure that is charged upon the Fund by the
Constitution or by any other written law and shall contain a
reference to the relevant provisions of the Constitution or of
such other law, as the case may be, authorizing the expenditure
to be so charged;
(b) the estimates of other expenditure required for the service of
the financial year–
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(i) shall be classified by heads of expenditure;
(ii) shall describe the ambit of each such head;
(iii) shall show the sum to be supplied for each such head by
appropriation; arid
(iv) shall designate in respect of each head the controlling
officer appointed to control and account for expenditure
of the sums appropriated for that head by the
appropriation law.
Controlling officers.
42.(1) The Financial Secretary shall appoint in respect of each head of
expenditure provided for any financial year in the annual estimates of the
Government, a controlling officer to control that head subject to the
provisions of this Act and of any Financial Regulations made or any
directions given thereunder, and to account for the expenditure of the sums
appropriated for that head.
(2) A controlling officer shall be the accounting officer in respect of,
and shall be personally accountable for, all public moneys disbursed and all
stores held, issued or received or used by or on account of the department or
service for the head of expenditure for which he is the controlling officer.
(3) A controlling officer may, subject to the provisions of this Act and of
any regulations made or instructions issued thereunder, and if so required by
the Financial Secretary shall, define in writing under his hand the extent to
which the powers and duties conferred or imposed upon him may be
exercised or performed on his behalf by any accounting officer under his
control, and may give such directions as may be necessary to secure the
proper exercise and performance of such powers and duties:
Provided that no delegation under this subsection shall extend to abridge the
personal accountability imposed on a controlling officer by subsection (2).
(4) A public officer designated by the title of his office in the annual
estimates of expenditure for any financial year to be the controlling officer
in respect of any head of expenditure pursuant to section 41(b)(iv) shall be
deemed for the purpose of subsection (1) to have been appointed by the
Financial Secretary and such designation shall constitute sufficient
notification of the appointment.
Disbursement of and accounting for expenditure on Consolidated Fund
Services.
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43. The disbursement of moneys provided for in the annual estimates of
expenditure for any financial year to meet expenditure on the Consolidated
Fund services shall be accounted for by the Accountant General.
Contingencies Fund.
44.(1) The Contingencies Fund shall consist of moneys from time to time
appropriated thereto and all moneys so appropriated shall be paid from the
Consolidated Fund into the Contingencies Fund.
(2) The Minister responsible for finance shall apply the moneys in the
Contingencies Fund in accordance with the provisions of section 71 of the
Constitution.
(3) Every advance from the Contingencies Fund shall be authorized by
means of a warrant under the hand of the Minister responsible for finance.
Re-allocation.
45.(1) If in the opinion of the Minister responsible for finance the
exigencies of the public service render it necessary or expedient to vary the
sums assigned to any purpose within a head of expenditure or to make
provision for a new purpose within such head, he may direct by means of a
warrant that there shall be applied in aid of any purpose for which the sum
assigned may be deficient or in aid of a new purpose a further sum out of
any surplus arising, or likely to arise, on any sums assigned to any other
purpose within that head:
Provided that any new purpose to which any sum is assigned shall be within
the ambit of such head.
And provided further that the total authorized establishment of staff
provided for in that head is not thereby exceeded.
(2) Any warrant issued under the provisions of this section shall be laid
before the Parliament at the earliest opportunity.
PART VII.–ACCOUNTING OFFICERS AND ACCOUNTS.
Accountant General.
46. The Accountant General is hereby charged with the compilation,
management and supervision of the accounts of the Government and with
the conduct of the treasury.
Powers and duties of Accountant General.
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47.(1) The Accountant General shall issue such instructions as may appear
to him to be necessary, to be known as accounting instructions, for the
advantage and safety of public moneys and public property and for the due
and proper accounting therefor.
(2) Without prejudice to the generality of subsection (1), accounting
instructions may provide for–
(a) the collection, custody, issue, expenditure and management of
all public moneys and the guidance of and compliance by all
persons concerned therewith;
(b) the effectual record, examination, inspection and departmental
check of all receipts, payments and expenditure and the
keeping of all necessary books and accounts;
(c) the manner in which accounts are to be kept and the format of
all books, returns and documents whatsoever required for the
proper accounting for public moneys and public stores;
(d) the proper accounting for the purchase, safe custody, issue, sale
or other disposal or writing off of stores and other property of
the Government and for the stock taking of such stores and
property;
(e) the custody, handling and proper accounting for stamps,
securities and negotiable instruments whether the property of
the Government or on deposit with or entrusted to the
Government or to any public officer in his official capacity;
and
(f) the reporting of losses, by whatever means, of public moneys,
stamps, accountable documents of whatever kind and public
stores and the reporting of the destruction of or damage to any
property of the Government.
(3) Without prejudice to the generality of section 46 the Accountant
General shall–
(a) ensure that all moneys received and paid by the Government
are brought promptly and properly to account;
(b) take all reasonable steps to satisfy himself as to the correctness
of payment vouchers, and to insure that payment is refused on
any voucher which is wrong or insufficient in content, or which
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contravenes accounting instructions, or which in his opinion is
in any way unacceptable in support of a charge on public funds;
(c) ensure, in so far as is practicable, that adequate provision is
made for the safe custody of public moneys, stamps, securities
and other accountable documents; and
(d) report to the Financial Secretary in writing any apparent defect
in departmental control of expenditure, revenue, cash, stamps,
stores or other property of the Government and any persistent
breach or non-observance of accounting instructions that may
come or be brought to his notice.
(4) The Accountant General in the exercise of the powers and duties
conferred upon him by this section shall be entitled –
(a) to inspect any office, store or premises and shall be given
access at all times thereto and shall be freely given all available
information, documents and records he may require with regard
to public moneys, public stores and other property of the
Government; and
(b) to check any public moneys, stamps, stores and securities for
the purpose of satisfying himself that accounting instructions
and any regulations made under this Act are being complied
with.
(5) The Accountant General may delegate to any public officer under his
control by writing under his hand any of the powers conferred upon him by
subsection (4).
Duties of accounting officers.
48.(1) Every accounting officer shall be subject to the provisions of this Act
and shall perform such duties as may be prescribed by or under this Act or
any financial regulations made or any directions given thereunder.
(2) Every accounting officer shall comply with accounting instructions
and shall keep such books and render such accounts and in such manner as
may be required by such instructions.
Accounting officers not permitted to open bank accounts.
49. No accounting officer shall open any public or official account in respect
of public moneys in any bank without the authority in writing of the
Financial Secretary.
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Overdrafts on public or official bank accounts.
50.(1) No bank shall permit an overdraft on any public or official account
unless such overdraft has been authorized in writing by the Financial
Secretary.
(2) If any bank permits an overdraft contrary to the provisions of
subsection (1) no action shall lie to recover the whole or any part of such
overdraft and no interest shall be chargeable on such overdraft.
All public moneys to be accounted for in the public accounts of
Gibraltar.
51. All public moneys shall be accounted for in the public accounts of
Gibraltar.
Annual accounts.
52.(1) The Accountant General shall within a period of nine months (or
such longer period as the Minister responsible for finance shall allow) after
the close of each financial year sign and transmit to the Principal Auditor
accounts showing fully the financial position of the Government of Gibraltar
at the end of such financial year.
(2) The accounts shall include–
(a) a statement of assets and liabilities;
(b) an abstract statement of receipts and payments;
(c) a comparative statement of actual and estimated revenue and
expenditure respectively by heads and sub-heads;
(d) a statement of unauthorized expenditure by heads;
(e) a statement of balances on advance accounts from the
Consolidated Fund analysed under the several categories
specified in section 12;
(f) a statement of the balances on deposit accounts;
(g) a statement of outstanding loans made from the Consolidated
Fund;
(h) a statement of the public debt;
(i) a statement of aggregate arrears of revenue by subheads;
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(j) a statement of the accounts of each special fund, other than the
Improvement and Development Fund, showing in respect of
each such fund the investments or other assets relating thereto;
(k) a statement of losses of cash and stores written-off and claims
abandoned;
(l) a statement of unretired imprests;
(m) in respect of the Improvement and Development Fund–
(i) a comparative statement of actual and estimated revenue
by heads;
(ii) a comparative statement of actual and estimated
expenditure by development projects;
(iii) a statement of unauthorized expenditure;
(iv) a statement of outstanding loans made from the Fund;
and
(n) such other statements as the Parliament may from time to time
by resolution require.
Annual accounts of special funds.
53.(1) In this section–
“controlling officer” means any public officer, other than the Accountant
General, appointed under any written law or by virtue of
regulations made under section 19 to be the controlling officer of a
special fund.
“period of account” means –
(a) in relation to any fund declared to be a special fund under the
provisions of section 18(3)(a) such period of account as may be
provided in the written law establishing such fund or in any
regulations relating thereto made under section 19;
(b) in relation to any other fund declared to be a special fund under
the provisions of section 18(3)(b) such period of account as
may be provided in any trust instrument relating thereto or in
any regulations made in connection therewith under section 19;
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(c) in relation to any special fund, in the absence of any provision -
as aforesaid, the financial year;
“special fund” means any fund, other than the Improvement and
Development Fund, specified in Schedule 1.
(2) Within a period of six months after the close of the period of account
the controlling officer shall cause to be prepared and shall sign and transmit
to the Principal Auditor an account, in such form as the Accountant General
may from time to time require, of each special fund in respect of which he is
the controlling officer and a copy of each such account so transmitted shall
be transmitted to the Accountant General.
Valuation of assets, etc.
54.(1) At the close of each financial year the value of every security held on
account of the Government in the Consolidated Fund and, subject to the
provisions of subsection (3), in any special fund shall be adjusted to accord
with the middle market price in London on the last working day of that year
and any consequent increase or decrease of the value of such securities shall
be carried to the credit or debit of the Consolidated Fund or appropriate
special fund as the case may be.
(2) Whenever during the course of a financial year and in order to take
advantage of the state of the market, a security held for account of the
Consolidated Fund or any special fund is sold for the purpose of re-investing
the proceeds in another security, any adjustment which may be required as a
result thereof shall be carried to the credit or debit of the Consolidated Fund
or appropriate special fund as the case may be.
(3) Where in relation to any special fund the financial year is not the
period of account the adjustment required by subsection (1) shall accord
with the middle market price in London on the last working day of the
period of account prescribed for such special fund and for the purposes of
this subsection the expression “period of account’’ shall have the meaning
ascribed to it in section 53(1) (a) and (b).
PART VIII.–THE PRINCIPAL AUDITOR.
Office of Principal Auditor.
55.(1) The Principal Auditor shall not, while holding the office of Principal
Auditor, hold any other office of profit under the Crown.
(2) The Principal Auditor shall not be required to undertake–
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(a) any duties outside those pertaining to his office if in his opinion
such duties are incompatible with the responsibilities and
duties of that office; and
(b) any examination of accounts partaking of the nature of a pre-
audit which involves the acceptance by him of responsibility
which would in his opinion preclude him from full criticism of
any accounting transaction after such transaction has been duly
recorded.
Powers of Principal Auditor.
56. (1) In the performance of his functions under the Constitution and under
this Act, the Principal Auditor–
(a) shall have access to all accounts, books, cash, documents,
securities, stamps, stores, vouchers or other Government
property under the control or in possession of any public
officer;
(b) may call upon any public officer for any explanations and
information which he may require in order to enable him to
discharge his duties;
(c) may authorize in writing any person publicly carrying on the
profession of accountant to conduct on his behalf any inquiry,
examination or audit and such person shall report thereon to the
Principal Auditor in such manner as he may direct;
(d) may without payment of fee, cause search to be made in and
extracts to be taken from any book, document or record in any
public office; and
(e) may lay before the Attorney-General a case in writing as to any
question of law and the Attorney-General shall give a written
opinion upon such question.
(2) The Principal Auditor may authorize in writing any public officer,
with the consent of the head of such officer’s department, to exercise in that
behalf the power conferred upon him by subsection (1) (a).
Nature of audit.
57. In the performance of his functions under the Constitution and under this
Act, the Principal Auditor shall have such other powers as are reasonably
necessary in order to satisfy himself whether or not–
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(a) all reasonable steps have been taken to secure the due
collection of revenues and of all other public moneys due and
owing to the Government and the provisions of the
Constitution and of this Act and any regulations and
instructions relating to such collection have been complied
with;
(b) all moneys which have been appropriated and disbursed have
been applied for the purposes for which they were appropriated
and the expenditure conforms with the authority which governs
it;
(c) public moneys other than those which have been appropriated
have been dealt with in accordance with proper authority;
(d) all reasonable precautions have been taken to safeguard the
proper receipt, custody, issue and proper use of cash, stamps,
securities and stores and the regulations and instructions
relating thereto are sufficient and have been duly observed;
(e) the regulations, directions and instructions in force relating to
the issue and payment of public moneys are sufficient to secure
effective control over expenditure and such regulations,
directions and instructions have been duly observed by the
public officers concerned therewith; and
(f) the regulations, directions and instructions in force relating to
the accounting for public moneys, stores and other Government
property are adequate and such regulations and instructions
have been duly observed by the public officers concerned
therewith.
Notification of irregularities.
58. If at any time it appears to the Principal Auditor that irregularities have
occurred in the receipt, custody or expenditure of public moneys or in the
receipt, custody, issue, sale, disposal, transfer or delivery of any stamps,
securities, stores, accountable documents or other property of the
Government or in the accounting for the same, he may bring the matter to
the notice of the Financial Secretary.
Delegation.
59. Anything, which under the authority of this Act is directed to be done by
the Principal Auditor other than–
(a) the certifying of and reporting on accounts; and
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(b) the exercise of the power conferred upon the Principal Auditor
by section 56(1)(c),
may be done by any officer of his staff duly authorized by him.
PART IX. –EXAMINATION AND AUDIT OF ACCOUNTS OF
CORPORATE AND SIMILAR BODIES.
Application of Part IX.
60.(1) This Part shall apply to every person or body–
(a) that is in receipt of a contribution from any public moneys : or
(b) in respect of whom the Government has given a guarantee to
any person; or
(c) whose operations may impose or create a liability on any public
moneys–
not being a body corporate whose accounts the Principal Auditor is for the
time being specifically required or empowered to audit and report on under
any other law.
Power of Principal Auditor to audit.
61.(1) The Principal Auditor may audit and report on the accounts of any
person or body to whom this Part applies.
(2) In the exercise of his powers under subsection (1), the Principal
Auditor shall have, in relation to any person or body to whom this Part
applies, the same powers as are conferred on him under sections 56 and 57
in relation to public offices, public moneys, stamps, securities, stores and
other Government property.
Reports on accounts of statutory and other bodies.
62. Where in accordance with the provisions of this Part the Principal
Auditor has, or by virtue of directions given by him under the provisions of
section 57(c), caused to be examined, inquired into and audited the accounts
of any person or body, he may
(i) certify the accounts;
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(ii) prepare and sign a report on such audit if he considers
such a report is necessary;
(iii) transmit to the Minister responsible for finance all such
certified accounts together with any report that he may
have made; and
(iv) transmit the report to the person or body which is the
subject of the report.
Observations on reports of the Principal Auditor to be obtained.
63. On receipt of any report of the Principal Auditor under section 62 the
Minister responsible for finance shall request the person or body for its
comments, to be supplied within such time, being not less than 14 days from
the date of request, as may be specified therein, on any matter to which the
Principal Auditor has called attention in such report.
Reports on accounts of statutory and other bodies to be laid before the
Parliament.
64. A copy of every account and of any report of the Principal Auditor
thereon transmitted to the Minister responsible for finance in accordance
with the provisions of section 62 together with the comments, if any, of the
person or body and a copy of any document forming a part of or appended to
any such report shall be laid before the Parliament.
Audit fees.
65.(1) Notwithstanding anything to the contrary contained in any written
law, any person or body whose accounts are examined, inquired into or
audited by the Principal Auditor under the provisions of section 61 shall in
respect of such examination, inquiry into or audit pay such fee as the
Principal Auditor may determine :
Provided that the Financial Secretary may, in any case in which it shall
appear to him to be in the public interest that some lesser fee shall be paid or
that no fee shall be charged, direct the Principal Auditor to levy such lesser
fee or to make no charge as the case may be.
(2) Any fee charged under this section shall be paid into the
Consolidated Fund.
PART X. –ABANDONMENT OF CLAIMS, WRITE-OFFS AND
SURCHARGE.
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Abandonment of claims and write-off.
66. The Financial Secretary shall have in respect of public moneys, stores
and other movable property belonging to the Government or provided for
the public service–
(a) power to abandon irrecoverable amounts of revenue, debts or
over-payments; and
(b) power to write-off losses or deficiencies of public moneys and
the value of lost, deficient, condemned, unserviceable, or
obsolete stores.
Disposal of surplus stores to certain organizations.
67. The Financial Secretary shall have power to authorize the gift of
serviceable stores which are surplus to Government requirements or are not
required for Government purposes to institutions or organizations in
Gibraltar established solely or principally for educational, scientific, cultural
or charitable purposes.
Surcharge.
68.(1) Notwithstanding the provisions of any other written law if at any
time it appears to the Financial Secretary that by reason of neglect of duty,
carelessness or fault any person who is or was at the time of such neglect,
carelessness or fault a public officer-
(a) has failed to collect any moneys owing to the Government for
the collection of which he is or was responsible;
(b) is or was responsible for any improper payment of public
moneys or for the payment of any moneys which were not duly
vouched;
(c) is or was responsible for any deficiency in or for any loss or
destruction of or damage to any public moneys, stamps,
securities, stores or other Government property; or
(d) is or was responsible for any loss of or in jury to the property of
any other person and as a result the Government is liable for
the payment of damages or compensation,
he may after due investigation, call upon such public officer to show cause
why he should not be surcharged the amount of the moneys not collected,
improperly paid, not duly vouched, lost, destroyed or damaged or the value
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of the stores or other property lost, destroyed or damaged or the amount of
damages or compensation paid as the case may be.
(2) If, within such period as the Financial Secretary may allow, an
explanation satisfactory to him is not furnished by such public officer with
regard to the failure to collect, improper payment, payment not duly
vouched, deficiency, loss, destruction, damage or injury including damage
or in jury for which the Government has paid damages or compensation as
the case may be the Financial Secretary may surcharge that public officer
such sum as he may determine :
Provided that–
(i) in determining the sum to be surcharged the Financial Secretary
shall take due account of the ability of the public officer to pay
the surcharge without undue financial hardship; and
(ii) the sum to be surcharged shall not in any case exceed–
(a) in relation to public moneys, the amount of any such
moneys not collected, improperly paid, unvouched,
deficient, destroyed, lost or damaged;
(b) in relation to stores or other property the value of such
stores or property lost, deficient, destroyed or damaged;
(c) the cost actually incurred by the Government of repairing
the in jury or by way of payment of damages or
compensation;
(d) in the case of a public officer, other than a public officer
in industrial employment, one sixth of the gross annual
pensionable emoluments or pension of such public
officer, and in the case of a public officer in industrial
employment eight weeks basic wages.
(3) For the purposes of this section and section 72 industrial
employment means employment of which the terms and conditions are
decided after negotiation in the Official Employers Joint Industrial Council.
Notification of surcharge.
69. The Financial Secretary shall cause the public officer, the Accountant
General, the Principal Auditor and the Head of Department of such public
officer to be notified in writing of any surcharge made under section 68.
Appeal against surcharge.
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70.(1) A person who is aggrieved by any surcharge made against him under
the provisions of section 68 may appeal to the Minister responsible for
finance within a period of thirty days (or such longer period as the Minister
responsible for finance may allow) from the date on which he is notified of
the surcharge.
(2) The Minister responsible for finance, after making or directing to be
made such investigations as he may deem to be necessary, may confirm the
surcharge or direct that the public officer surcharged be released wholly or
in part from the surcharge as may appear to him to be just and reasonable.
Withdrawal of surcharge.
71. The Financial Secretary may at any time withdraw any surcharge
imposed by him for any reason that he may think fit and in such event he
shall notify in writing the public officer, the Accountant General, the
Principal Auditor and the head of department of such public officer of such
withdrawal.
Recovery of surcharge.
72.(1) Subject to the provisions of this section the Accountant General shall
cause the amount of any surcharge to be recovered from the public officer
surcharged by equal instalments from the salary, wages, pension or other
emoluments of such public officer:
Provided that–
(a) in the case of a public officer not in industrial employment, the
instalments shall be monthly and no one such instalment shall
exceed one sixth of the officer’s gross pensionable emoluments
or pension for that month;
(b) in the case of a public officer in industrial employment the
instalments shall be weekly and no such instalment shall
exceed one-eighth of such person’s basic weekly wage;
(c) the number of such instalments shall not exceed twelve in the
case of a public officer not in industrial employment and not
exceed sixty-four in the case of a public officer in industrial
employment;
(d) where the public officer surcharged is due to be paid any
moneys by the Government other than by way of salary, wages
or pension the Financial and Development Secretary may direct
that the amount of any surcharge imposed on that public
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officer, be deducted from such moneys in whole or in part as he
considers just and reasonable.
(2) No recoveries shall be made until after the expiration of the period
allowed by section 70 for the lodging of an appeal and where the public
officer surcharged appeals under the provisions of that section, no recoveries
shall be made until and unless the amount of the surcharge has been
confirmed or otherwise determined in accordance with that section.
Surcharge to be a debt to the Government.
73. The amount of any surcharge shall be a debt due to the Government
from the public officer in respect of whom the surcharge is imposed and the
provisions of section 72 shall be without prejudice to the right, which is
hereby declared, of the Government to sue for such surcharge in any court of
competent jurisdiction.
PART XI.–REGULATIONS.
Regulations by the Minister responsible for finance.
74.(1) The Minister responsible for finance may make regulations, to be
called Financial Regulations, not inconsistent with the provisions of this
Act, for the proper carrying out of the intent and purposes of this Act and
without prejudice to the generality of this provision such regulations may
provide for–
(a) the preparation of estimates of revenue and expenditure;
(b) the administration and management of the Improvement and
Development Fund;
(c) the authorization of rates of payment of public funds for
specific purposes where such rates of payment are not provided
for by law;
(d) the duties of controlling officers.
(2) Regulations made under subsection (1) shall not have the force of
law.
Public procurement.
75. (1) This section applies to the contracts of a public body in respect of
which Community law relating to public procurement may from time to
time apply.
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(2) A body mentioned in sub-section (1) shall in respect of prescribed
contracts comply with regulations made under sub-section (3).
(3) The Minister responsible for finance may make regulations for the
purpose of transposing into the law of Gibraltar Community law in respect
of public procurement and without prejudice to the generality of the
foregoing may in particular make provision in respect of the following
matters, that is to say–
(a) the designation of the public bodies to which this section shall
apply;
(b) the proposed activities, including exceptions thereto, of a
designated body to which this section shall apply;
(c) the value of a contract of a designated body, in money or
money’s worth, below which this section shall not apply;
(d) the manner in which a designated body may lay down technical
specifications in respect of the activities to be carried out under
a prescribed contract;
(e) the procedures to be adopted by a designated body in the award
of a prescribed contract;
(f) the administrative procedures in relation to a prescribed
contract to be followed by a designated body;
(g) the contents of and the method and form of publication of
notices in respect of a prescribed contract;
(h) remedies and penalties in respect of the failure by a designated
body to comply with the provisions of this section including
the consequences in respect of any prescribed contract
purportedly made other than in compliance with those
provisions;
(j) matters to be notified to the Commission;
(k) any other matters necessary to satisfy an obligation of
Community Law relating to public procurement.
(4) Regulations made under this section may make provision for
different public bodies and for different classes of contract and may make
different provisions in respect of each different body and different class of
contract.
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(5) In this section —
“designated body” means a public body designated in accordance with
sub-section (3)(a);
“prescribed contract” means a contract to which this section applies by
virtue of paragraphs (a), (b) and (c) of sub-section (3).
PART XII–FINANCIAL RELATIONS BETWEEN THE
GOVERNMENT AND PUBLIC UNDERTAKINGS
Interpretation of Part.
76.(1) In this Part and unless the context otherwise requires–
“different activities” means, on the one hand, all products or services in
respect of which a special or exclusive right is granted to an
undertaking or all services of general economic interest with which
an undertaking is entrusted and, on the other hand, each other
separate product or service in respect of which the undertaking is
active;
“exclusive rights” means rights that are granted by the Government to
one undertaking in Gibraltar through any legislative, regulatory or
administrative instrument, reserving it the right to provide a service
or undertake an activity within Gibraltar;
“public authorities” means all public authorities;
“public undertakings” means any undertaking over which the public
authorities may exercise directly or indirectly a dominant influence
by virtue of their ownership of it, their financial participation
therein, or the rules which govern it;
“public undertakings operating in the manufacturing sector” means all
undertakings whose principal area of activity, defined as being at
least 50% of total annual turnover, is in manufacturing. These
undertakings are those whose operations fall under Section D —
Manufacturing being subsection DA up to and including subsection
DN of the NACE (Rev.1) classification, as published in the Official
Journal of the European Communities with the following reference,
OJ L 83, 3.4.1993, p. 1;
“special rights” means rights that are granted by Gibraltar law or by the
Government to a limited number of undertakings, through any
legislative, regulatory or administrative instrument, which–
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(a) limits to two or more the number of such undertakings
authorised to provide a service or undertake an activity,
otherwise than according to objective, proportional and non-
discriminatory criteria;
(b) designates, otherwise than according to such criteria, several
competing undertakings, as being authorised to provide a
service or undertake an activity; or
(c) confers on any undertaking or undertakings, otherwise than
according to such criteria, any legal or regulatory advantages
which substantially affect the ability of any other undertaking
to provide the same service or to operate the same activity in
Gibraltar under substantially equivalent conditions;
“undertaking required to maintain separate accounts” means any
undertaking that enjoys a special or exclusive right granted in
Gibraltar pursuant to Article 106(1) of the Treaty or is entrusted
with the operation of a service of general economic interest
pursuant to Article 106(2) of the Treaty, that receives public service
compensation in any form whatsoever in relation to such service
and that carries on other activities;
(2) For the purposes of the definition of “public undertakings” in
subsection (1), a dominant influence on the part of the public authorities
shall be presumed when these authorities, directly or indirectly in relation to
an undertaking–
(a) hold the major part of the undertaking’s subscribed capital;
(b) control the majority of the votes attaching to shares issued by
the undertakings; or
(c) can appoint more than half of the members of the undertaking's
administrative, managerial or supervisory body.
Transparency of financial relations.
77.(1) The Financial Secretary shall take steps to ensure that financial
relations between public authorities and public undertakings as defined in
section 76 are transparent as provided in this Part, so that the following
details emerge clearly, that is to say–
(a) the public funds made available directly by public authorities to
the public undertakings concerned;
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(b) the public funds made available by public authorities through
the intermediary of public undertakings or financial
institutions; and
(c) the use to which these public funds are actually put.
(2) The Financial Secretary shall ensure that the financial and
organisational structure of any undertaking required under any statutory
provision to maintain separate accounts is correctly reflected in the separate
accounts, so that the following emerge clearly, that is to say–
(a) the costs and revenues associated with different activities; and
(b) full details of the methods by which costs and revenues are
assigned or allocated to different activities.
Application of section 77.
78. The transparency referred to in section 77(1) shall apply in particular to
the following aspects of financial relations between public authorities and
public undertakings–
(a) the setting-off of operating losses;
(b) the provision of capital;
(c) non-refundable grants, or loans on privileged terms;
(d) the granting of financial advantages by forgoing profits or the
recovery of sums due;
(e) the forgoing of a normal return on public funds used; and
(f) compensation for financial burdens imposed by the public
authorities.
Maintenance of separate accounts.
79.(1) To ensure the transparency referred to in section 77(2), the Financial
Secretary shall ensure that for any undertaking required to maintain separate
accounts–
(a) the internal accounts corresponding to different activities are
separate;
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(b) all costs and revenues are correctly assigned or allocated on the
basis of consistently applied and objectively justifiable cost
accounting principles; and
(c) the cost accounting principles according to which separate
accounts are maintained are clearly established.
(2) Subsection (1) shall only apply to activities which are not otherwise
covered by specific provisions laid down by the Union and shall not affect
any obligations of the Government or undertakings arising from the Treaty
or from such specific provisions.
Exemptions.
80.(1) As far as the transparency referred to in section 77(1) is concerned,
this Part shall not apply to financial relations between the public authorities
and–
(a) public undertakings, as regards services the supply of which is
not liable to affect trade between Gibraltar and Member States
to an appreciable extent;
(b) the Gibraltar Savings Bank;
(c) any public credit institutions, as regards deposits of public
funds placed with them by public authorities on normal
commercial terms; and
(d) public undertakings whose total annual net turnover over the
period of the two financial years preceding that in which the
funds referred to in section 77(1) are made available or used
has been less than EUR 40 million; save that in respect of the
Gibraltar Savings Bank and any other public credit institution,
the corresponding threshold shall be a balance sheet total of
EUR 800 million.
(2) As far as the transparency referred to in section 77(2) is concerned, this
Part shall not apply–
(a) to undertakings, as regards services the supply of which is not
liable to affect trade between Gibraltar and Member States to
an appreciable extent;
(b) to undertakings whose total annual net turnover over the period
of the two financial years preceding any given year in which–
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(i) it enjoys a special or exclusive right granted in Gibraltar
pursuant to Article 106(1) of the Treaty; or
(ii) it is entrusted with the operation of a service of general
economic interest pursuant to Article 106(2) of the
Treaty,
is less than EUR 40 million; save that in respect of the
Gibraltar Savings Bank and any other public credit institution,
the corresponding threshold shall be a balance sheet total of
EUR 800 million; and
(c) to undertakings which have been entrusted with the operation
of services of general economic interest pursuant to Article
106(2) of the Treaty if the compensation they receive, in any
form whatsoever, was fixed for an appropriate period following
an open, transparent and non-discriminating procedure.
Supply of information to the European Commission concerning the
information referred to in section 77.
81.(1) Information concerning the financial relations referred to in section
77(1) shall be kept by the Financial Secretary at the disposal of the European
Commission for five years from the end of the financial year in which the
public funds were made available to the public undertakings concerned;
where the same funds are used during a later financial year, the five-year
time limit shall run from the end of that financial year.
(2) Information concerning the financial and organisational structure of
undertakings referred to in section 77(2) shall be kept by the Financial
Secretary at the disposal of the European Commission for five years from
the end of the financial year to which the information refers.
(3) The Financial Secretary shall, where the European Commission
considers it necessary so to request, ensure the supply to the European
Commission of the information referred to in subsections (1) and (2),
together with any necessary background information, notably the objectives
pursued.
Public undertakings in the manufacturing sector.
82.(1) The Financial Secretary shall ensure that, in relation to public
undertakings operating in the manufacturing sector, the European
Commission is supplied with the financial information set out in subsections
(2) to (4) on an annual basis and within the timetable contained in
subsection (8).
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(2) The financial information required for each public undertaking
operating in the manufacturing sector, and in accordance with subsection
(5), shall be as follows–
(a) the annual report and annual accounts, in accordance with the
provision of the Companies (Accounts) Act 1999 and the
Companies (Consolidated Accounts) Act, including the balance
sheet and profit/loss account, explanatory notes, together with
accounting policies, statements by directors, segmental and
activity reports; and
(b) notices of shareholders’ meetings and any other pertinent
information.
(3) The reports required under subsection (2) shall be provided for each
individual public undertaking separately, as well as for the holding or sub
holding company which consolidates several public undertakings in so far as
the consolidated sales of the holding or sub holding company lead to its
being classified as “manufacturing”.
(4) The following details, in so far as not disclosed in the annual report
and annual accounts of each public undertaking, shall be provided in
addition to the information referred to in subsections (2) and (3)–
(a) the provision of any share capital or quasi-capital funds similar
in nature to equity, specifying the terms of its or their provision
(whether ordinary, preference, deferred or convertible shares
and interest rates; the dividend or conversion rights attaching
thereto);
(b) non-refundable grants, or grants which are only refundable in
certain circumstances;
(c) the award to the undertaking of any loans, including overdrafts
and advances on capital injections, with a specification of
interest rates and the terms of the loan and its security, if any,
given to the lender by the undertaking receiving the loan;
(d) guarantees given to the undertaking by public authorities in
respect of loan finance (specifying terms and any charges paid
by undertaking for these guarantees);
(e) dividends paid out and profits retained; and
(f) any other forms of intervention by the Government, in
particular, the forgoing of sums due to the Government by a
public undertaking, including inter alia the repayment of loans,
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grants, payment of corporate or social taxes or any similar
charges.
The share capital referred to in paragraph (a) shall include share capital
contributed by the Government directly and any share capital received
contributed by a public holding company or other public undertaking,
including financial institutions, whether inside or outside the same group, to
a given public undertaking. The relationship between the provider of the
finance and the recipient shall always be specified.
(5) The information required by subsections (2) to (4) shall be provided
only in respect of public undertakings whose turnover for the most recent
financial year was more than EUR 250 million.
(6) The information required by subsections (2) to (4) shall be supplied
separately for each public undertaking including those located in Member
States, and shall include, where appropriate, details of all intra- and inter-
group transactions between different public undertakings, as well as
transactions conducted directly between public undertakings and the
Government.
(7) Where public undertakings split their activities into several legally
distinct undertakings, one consolidated report may be submitted, reflecting
the economic reality of a group of undertakings operating in the same or
closely related sectors. Consolidated reports from diverse, and purely
financial, holdings shall not be sufficient for the purposes of this section.
(8) The information required under subsections (2) to (4)–
(a) shall be supplied to the European Commission on an annual
basis; and
(b) shall be provided within 15 working days of the date of
publication of the annual report of the public undertaking
concerned,
Provided that, in any case, and specifically for undertakings which do not
publish an annual report, the required information shall be submitted not
later than nine months following the end of the undertaking’s financial year.
(9) In order to assess the number of companies covered by this reporting
system, the Financial Secretary shall ensure that the European Commission
is supplied with a list of the companies covered by this section and their
turnover. The list is to be updated by 31 March of each year.
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(10) The Financial Secretary shall ensure that the European Commission is
furnished with any additional information that it deems necessary in order to
complete a thorough appraisal of the data submitted.
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SCHEDULE 1
Section 18
SPECIAL FUNDS
Administrator General’s
Account
(Administrator General’s Act)
Closed Long-Term Benefits
Fund
(Social Security (Closed Long-Term
Benefits and Scheme) Act)
Employment Injuries
Insurance Fund
(Social Security (Employment Injuries
Insurance) Act)
Government Trusts Fund
(Public Finance (Control and Audit) Act)
Improvement and
Development Fund
(Public Finance (Control and Audit) Act)
Note Security Fund
(Currency Notes Act)
Open Long-Term Benefits
Fund
(Social Security (Open Long-Term
Benefits Scheme) Act)
Savings Bank Fund
(Savings Bank Act)
Social Assistance Fund
(Public Finance (Control and Audit) Act
Short Term Benefits Fund
(Social Security Insurance Act)
Supreme Court Fund
(Supreme Court Act)
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SCHEDULE 2.
Section 24.
PURPOSES FOR WHICH THE IMPROVEMENT AND DEVELOPMENT
FUND MAY BE APPLIED.
1. The construction, improvement, extension, enlargement and
replacement of buildings and civil works and the provision, acquisition,
improvement and replacement of other capital assets (including vehicles,
vessels, machinery, instruments and equipment) required in respect of or in
connection with–
(a) housing and building projects;
(b) public roads, harbours and other means of communications;
(c) public offices and other public buildings;
(d) official transportation;
(e) telecommunications and broadcasting;
(f) the production, distribution and supply of water, electricity and
other forms of energy;
(g) education, libraries, museums, laboratories and scientific
research;
(h) hospitals, clinics, dispensaries, quarantine stations and other
medical and health institutions;
(i) public health and sanitation;
(j) fire control;
(k) tourist and industrial development;
(l) any other project, scheme or programme for economic or
social development.
2. The acquisition of land or any right or interest in or over land.
3. The carrying on of any survey, research or investigation preparatory
to the undertaking of any purpose referred to in paragraph 1 of this Schedule
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or for the formation or preparation of any scheme or plan for the
development, improvement, conservation or exploitation of the resources of
Gibraltar.
4. The payment of any charges or expenses incidental to or arising from
the carrying out of any of the purposes referred to in paragraphs 1, 2 and 3
of this Schedule.
____________________
SCHEDULE 3
Section 17A
(1) The Gibraltar Health Authority;
(2) The Gibraltar Electricity Authority;
(3) The Port Authority;
(4) The Care Agency;
(5) The Gibraltar Sports and Leisure Authority;
(6) The Gibraltar Regulatory Authority;
(7) The Gibraltar Development Corporation;
(8) The Housing Works Agency.