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Government Ministries and Agencies (Over-Time) Fund Act 2007 [11 MIRC Ch.16]

MARSHALL ISLANDS

REVISED CODE 2012

TITLE 11

FINANCE

CHAPTER 16.

GOVERNMENT MINISTRIES AND AGENCIES (OVER-TIME FUND)

ARRANGEMENT OF SECTIONS

Section

§1601. Short Title.
§1602. Purpose.
§1603. The Fund.
§1604. Payments into the Fund.
§1605. Payments out of the Fund.
§1606. Regulations and Fees.
§1607. Accounts and Records.
§1608. Effective Date.

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An Act to establish a Special Revenue Fund into which shall be paid, all fees payable to the government by private companies for transactions that may require any Department, or Agency of Government to perform its official duties and responsibilities outside normal working hours. [Original Ch. 16. "Inter-Generational Trust Fund" was repealed by P.L. 2006-73.]

Commencement: October 29, 2007.

Source: P. L. 2007-98

§1601. Short Title.

This Chapter may be cited as the Government Departments and Agencies (Over-Time) Special Revenue Fund, 2007.

§1602. Purpose.

The purpose of this special revenue fund is to receive and manage all fees payable to the Government by private companies whose transactions require the attendance, and the performance of official duties and responsibilities, by a Department, Agency or other Office of government, outside the normal Public Service working hours.

§1603. The Fund.

(1) There is hereby established a fund to be known as the "Government Departments and Agencies (Over-Time) Special Revenue Fund.

(2) The Fund is a special fund within the national Treasury and under the control and supervision of the Ministry of Finance, which shall provide for its administration in accordance with the Financial Management Act of 1990.

§1604. Payments into the Fund.

There shall be paid into the Fund all fees payable to the Government by private companies whose transactions require the attendance of, and the performance of official duties by a Department, Agency or other Office of Government outside the normal Public Service working hours.

§1605. Payments out of the Fund.

Payments shall be made out of the Fund only for the purpose of meeting over-time compensation payments to staff of the Ministries concerned.

§1606. Regulations and Fees.

(1) The Secretary of Finance shall, subject to approval by Cabinet, promulgate the necessary regulations to ensure the efficient administration of the provisions of this Chapter . Such Regulations may include the promulgation of the necessary schedule of fees for the purposes of this Chapter .

(2) Any schedule of fees promulgated as part of the Regulations under subsection (1) herein above, shall however, be subject to the approval of Cabinet.

§1607. Accounts and Records.

(1) The Secretary of Finance shall maintain, in accordance with the procedures prescribed by the Financial Management Act, proper accounts and records with respect to the Fund, and any item of property purchased with money from the Fund.

(2) The accounts to be laid before the Nitijela by the Minister of Finance pursuant to Article VIII, Section 5 (4) of the Constitution shall include accounts relating to the special fund herein described.

(3) The accounts and records maintained under Subsection (1) of this Section shall be audited by the Auditor - General as provided for under Article VIII, Section 15, of the Constitution.

§1608. Effective Date.

This Chapter shall take effect on the date of certification in accordance with Article IV, Section 21 of the Constitution and the Rules of Procedures of the Nitijela.

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