27 Jun 2012 in National Assembly:
Madam Temporary Deputy Chairlady, I beg to move:-
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27 Jun 2012 in National Assembly:
THAT, Clause 89(1) be amended by deleting the word “six” appearing immediately before the word “months” and substituting therefor the word “four”.
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27 Jun 2012 in National Assembly:
THAT, Clause 89 (2) (k) of the Bill be amended by striking out the alphabet “k” and insert the number “(3)” in order to become Clause 89 (3), striking out the following words at the beginning of the clause “a cost benefit analysis” and insert the following words at the beginning of the clause “Once every three years, the Cabinet Secretary responsible for matters relating to public investments shall prepare a report on the assessment” and at the end of the clause insert the word “or government linked corporation” to read as follows:-
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27 Jun 2012 in National Assembly:
89 (3) “Once every three years, the Cabinet Secretary responsible for matters relating to public investments shall prepare a report on the assessment of the national government continued involvement or investment in, or funding of, the state corporation or government linked corporation.”
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27 Jun 2012 in National Assembly:
THAT, Clause 89 (3) of the Bill be amended by renaming it to become Clause 89 (4) to read as follows:-
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27 Jun 2012 in National Assembly:
89 (4) “The Cabinet Secretary responsible for matters relating to public investments shall submit a copy reports in subsection (2) and (3) to the Cabinet Secretary, the Controller of Budget, the Commission on Revenue Allocation and the Auditor General.” Madam Temporary Deputy Chairlady, again, this is to reduce the period from six to four months. We are saying that within four months the Cabinet Secretary should be able to give reports on all investments. Instead of six months, four months is sufficient.
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27 Jun 2012 in National Assembly:
THAT, Clause 94 of the Bill be amended by inserting the word “or persistent” in the margin note to read as follows:-
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27 Jun 2012 in National Assembly:
94“Additional indicators of serious or persistent material breach”
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27 Jun 2012 in National Assembly:
THAT, Clause 94 (1) (a) (iii) be amended by striking out the following words “five percent” appearing in between the words “of” and “of revenue” and replacing with the words “a percentage of” and then inserting at the end of the clause the following words “ as prescribed in regulations” to read as follows:-
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27 Jun 2012 in National Assembly:
94 (1) (a) (iii) “had an operating deficit in excess of a percentage of revenue in the most recent financial year for which financial information is available as prescribed in regulations; or”
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