128
Constitution of Kenya, 2010
(a) if the national government guarantees the loan; and
(b) with the approval of the county government’s assembly.
Loan guarantees by
national government.
213. (1) An Act of Parliament shall prescribe terms and conditions
under which the national government may guarantee loans.
(2) Within two months after the end of each financial year, the
national government shall publish a report on the guarantees that it
gave during that year.
Public debt.
214. (1) The public debt is a charge on the Consolidated Fund, but
an Act of Parliament may provide for charging all or part of the public
debt to other public funds.
(2) For the purposes of this Article, “the public debt” means
all financial obligations attendant to loans raised or guaranteed and
securities issued or guaranteed by the national government.
Part 4—Revenue Allocation
Commission on
Revenue Allocation.
215. (1) There is established the Commission on Revenue
Allocation.
(2) The Commission shall consist of the following persons
appointed by the President—
(a) a chairperson, who shall be nominated by the President and
approved by the National Assembly;
(b) two persons nominated by the political parties represented
in the National Assembly according to their proportion of
members in the Assembly;
(c) five persons nominated by the political parties represented
in the Senate according to their proportion of members in
the Senate; and
(d) the Principal Secretary in the Ministry responsible for
finance.
(3) The persons nominated under clause (2) shall not be members
of Parliament.
(4) To be qualified to be a member of the Commission under clause
(2) (a), (b) or (c), a person shall have extensive professional experience
in financial and economic matters.