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Government Shipping Vessels Maintenance Act 2011

NITIJELA OF THE REPUBLIC OF THE MARSHALL ISLANDS

32^ND CONSTITUTIONAL REGULAR SESSION, 2011

BILL NO.: 101

P.L. 2011 – 64

GOVERNMENT SHIPPING VESSELS MAINTENANCE ACT 2011.

AN ACT

to create a special fund for maintenance of Government Shipping Vessels.

BE IT ENACTED BY THE NITIJELA OF THE REPUBLIC OF THE MARSHALL ISLANDS:

Section 1. Short Title.

This Act may be cited as the Government Shipping Vessels Maintenance Act, 2011.

Section 2. Shipping Vessels Maintenance Fund.

(1) There is hereby established a special fund, the Shipping Vessels Maintenance Fund hereinafter refer to as "the Fund".

(2) The Fund is a special revenue 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.

(3) For the purpose of this Act, "Government Shipping Vessels" means shipping vessels under the management of the Marshall Islands Shipping Corporations.

Section 3. Payments into the Fund.

There shall be paid into the Fund:

(a) monies appropriated by the Nitijela, or as may be received or become available to the Marshall Islands Shipping Corporation for the purposes of maintenance of shipping vessels;

(b) such other monies whether in the form of gifts, grants, donations or otherwise, and specifically for the maintenance of shipping vessels.

Section 4. Payments out of the Fund.

(1) Payments shall be made out of the Fund for the following purposes:

(a) repair and maintenance of shipping vessels, including the purchase of spare parts and other requisites needed for such purposes;

(b) acquire and purchase safety equipments such as rafts, life jackets, fire extinguishers and such other safety requisites needed on a boat or vessel;

(c) survey and classification of ships; and

(d) dry-docking.

Section 5. 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 shall be laid before the Nitijela by the Minister of Finance pursuant to Article VIII, Section 5 (4) of the Constitution.

(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.

Section 6. Effective Date.

This Act 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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