Section 60, The Public Financial Management Act, 2016

(1) Assumption of a commitment, settlement of whichrequires expenditures from the Estimates for multiple financial years or in a future financial year (hereinafter called “multiannual commitment”), by a budgetary agency shall be subject to the prior approval of the Minister. (2) The Minister may approve a multiannual commitment under subsection (1), if – (a) the amount to be paid under the commitment within the present financial year is equal to or less than the available appropriation and the available allotment, if any; Procurement and Governmen t contracts. Government stores regulations. Annual commitments. Multiannual commitments. No. 13 Public Financial Management Act 2016 No. 13 Public Financial Management Act 201654 55 (b) the legality of expenditures to be made from the Estimates under the commitment has been verified in accordance with any enactment; (c) the amount to be paid under the commitment does not cause any ceiling on total and other expenditures under the Fiscal Strategy Statement to be exceeded.