FOURTH   REPUBLIC

Act 725 .

    THE SEVEN HUNDRED AND 1WENIY-FIFIH

          ACT

OF THE PARLIAMENT OF THE REPUBLIC OF GHANA

     ENTITLED

    THE APPROPRIATION ACT, 2006

AN ACT to provide for the withdrawal of sums of money necessary to meet government expenditure for the 2007 financial year from the Consolidated Fund and from other funds to provide for related matters.

DATE OF ASSENT: 29th December, 2006.

ENACTED by the President and Parliament:

Sum of money to be issued from the Consolidated Fund for 2007 financial year.

1. Pursuant to Article 179(2) (a) of the Constitution a sum of money not exceeding Fifty-Four Trillion, Three Hundred and Fifteen Billion, Nine Hundred Million Cedis (054,315,900,000,000.00) shall be issued from the Consolidated Fund during the Financial year commencing on the 1 st day of January and ending the 31st December, 2007 and shall be appropriated for the purposes specified in the First Schedule.

Internally Generated Fund

2. That the Ministries, Departments, and Agencies listed in the first column of the Second Schedule be permitted to retain and use an amount of Two Trillion, Two Hundred and Thirty-Three Billion, Nine Hundred and Twenty-Four Million, Two Hundred and Eighty Thousand Cedis (02,233,924,280,000.00) indicated in the second column of the Second Schedule being a part of the total amount specified in section 1 of this Act during the Financial year commencing the 1 st day of January and ending on the 31 st day of December, 2007.

Highly Indebted Poor Country Fund

3. (1) A sum of money not exceeding Two Trillion, Two Hundred and Ten Billion, Nine Hundred Million Cedis (02,210,900,000,000.00) of HIPC allocation, being a part of the expenditure specified in this Act, shall be utilised during the Financial year commencing 1st day of January and ending of 31st day of December, 2007 ..

Multilateral Debt Relief Initiative

4. A sum of money not exceeding One Trillion, Five Hundred and Ninety-Eight Billion, Seven Hundred Million (01,598,700,000,000.00) of Multilateral Debt Relief Initiative, being part of the total amount specified in section 1 of this Act shall be utilised during the Financial year commencing 1st January and ending on the 31st December, 2007.

Payment of money on authorization of Minister for Finance and Economic Planning

5. The Controller and the Accountant-General may, on a warrant issued on the authority of the Minister responsible for Finance and Economic Planning, payout of the Consolidated Fund during the financial year ending on the 3l5t day of December, 2007 any sum not exceeding on the whole the sum of Fifty-four Trillion, Three Hundred and Fifteen Billion, Nine Hundred Million Cedis (054,315,900,000,000.00) referred to in Section! of this Act.

Repeal

6. The Appropriation (No. 2) Act, 2005 (Act 695) is hereby repealed.

Commencement

7. This Act shall come into force on the 1st day of January, 2007.