Fiscal Transparency And Responsibility Regulations

Cap. 15s03 · Revised Edition 2020 · 45 sections

s. 1Citation
s. 2Interpretation
s. 3Principles of fiscal policy
s. 4Fiscal strategy
s. 5Financial Secretary to prepare fiscal reports
s. 6Reports and statements not to affect Budget, etc
s. 7Fiscal Strategy Statement
s. 8Purpose of Fiscal Strategy Statement
s. 9Contents of Fiscal Strategy Statement
s. 10Time for submitting Fiscal Strategy Statement to National Assembly
s. 11Statement to be made publicly available
s. 12Additional requirements of Fiscal Strategy Statement
s. 13Fiscal reports
s. 14Fiscal Outlook and Mid-year Review Report
s. 15Minister to submit Fiscal Outlook Report to the National Assembly
s. 16Contents of Fiscal Outlook Report
s. 17Additional information to be included in Fiscal Outlook Report
s. 18Budget overview information
s. 19Review of Government receipts and expenditures
s. 20Assets and liabilities information
s. 21Budget reconciliation information
s. 22Minister to explain Fiscal Outlook Report
s. 23Level of detail in the Fiscal Outlook Report
s. 24Details to be included in Fiscal Outlook Report after fiscal year commencing March 31, 2013
s. 25Reports to include information on public statutory bodies
s. 26Final Budget Outcome Report
s. 27Minister to present Final Budget Outcome Report to National Assembly
s. 28Review of Budget outcome by Final Budget Outcome Report
s. 29Reports to include evaluation of consistency with Budget, etc
s. 30Data to be included in the documents
s. 31What information need not be included in the documents
s. 32Information in the reports to be consistent with the Medium- term Fiscal Framework
s. 33Power of the Financial Secretary to obtain requisite information
s. 34Central Bank and Auditor General’s Office to study reports
s. 35National Assembly may require further information
s. 36Comments and recommendations of the National Assembly
s. 37Reports to be made public
s. 38Minister to publish reports and statements
s. 39Time for availability of documents
s. 40Documents to be accompanied by a statement of responsibility
s. 41Financial Secretary to ensure compliance with the Regulations
s. 42Disciplinary action against defaulting public officers
s. 43National Assembly may pass a resolution in the event of failure to submit reports
s. 44Transitional provision
s. 45Commencement