Section 35, The Government Budgeting and Accountability Act, 2005

(1) No moneys shall be advanced from the Consolidated Fund except under the authority of an Act of Parliament. (2) An Act passed under subsection (1) shall specify the terms of release and re-payment of advances and require the completion of an agreement between the Government and the borrower as a condition for release. (3) Parliament may require that interest be payable in respect of such advances and shall determine the rate to be paid. (4) The Accountant-General may recover any advance or any portion thereof that is not repaid or accounted for, as required by an Act or agreement, out of any moneys payable by the Government to the person to whom the advance was made. (5) Every accountable advance that is not repaid or accounted for as required by subsection (4) shall be reported in the public accounts. Investment of public moneys in securities. Advances Balance of appropriation. No. 3 Government Budgeting and Accountability Act 2005No. 3 Government Budgeting and Accountability Act 200528 29 (6) The Minister shall, when annual estimates are being submitted for the approval of Parliament, include for approval, schedules showing the amounts by which it is proposed that advances shall be increased or decreased in the ensuing financial year and he shall seek the prior approval of Parliament for any subsequent revision of limits set by him.