Section 71, The Public Financial Management Act, 2016

(1) Pursuant to subsection (1) of section 118 of the Constitution, no loan shall be granted on behalf of the State, unless it is explicitly authorized by an Act or resolution of Parliament. (2) Pursuant to subsection (1) of section 118 of the Constitution, only the Minister may enter into an agreement for the granting of a loan from the Consolidated Fund. (3) In accordance with subsection (2) of section 118 of the Constitution and section 15 of the Public Debt Management Act, 2011, an agreement entered into pursuant to subsection (2) shall be laid before Parliament and shall not come into operation until it has been approved by Parliament and the agreement shall contain a clause to that effect. (4) For the purpose of subsection (3), the Minister may request Parliament to approve particular classes of loan subject to such limitations as may be required by Parliament.