Ministries, Departments and Agencies (Retention of Funds) Act, 2007 (Act 735) | Act 735 — Ghana law | Esheria

Ministries, Departments and Agencies (Retention of Funds) Act, 2007 (Act 735)

Specified ministries, departments, and agencies must retain the percentage of revenues and other moneys set out in the First Schedule, subject to the Financial Administration Act, 2003.

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Jurisdiction
Ghana
Instrument
Act or statute
Citation
Act 735
Version
Undated source snapshot
Language
en
Official source
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accounts and audit expenditure control financial administration fund retention funds retention internally generated funds public bodies revenue retention schedule amendment

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Statute overview

About this statute

Specified ministries, departments, and agencies must retain the percentage of revenues and other moneys set out in the First Schedule, subject to the Financial Administration Act, 2003. The enactments listed in the First Column of the Second Schedule are amended as set out in the Second Column. Specified Ministries, Departments and Agencies may raise or receive money for their functions and retain the percentage set in the Schedule. Rules in article 187 of the Constitution relating to the Auditor-General apply to money retained under this Act. Internally generated funds may be used only after budget approval and required finance submissions, and they cannot be used to pay salaries or benefits except for specified revenue-related allowances.