Constitution of Zambia (Amendment)
[No. 2 of 2016
87
(b) that any monies received in respect of a loan or grant
approved by the National Assembly shall be paid into
the Consolidated Fund, or other public fund or public
account.
208. (1) A public debt shall be a charge on the Consolidated
Fund or other public fund.
Public debt
(2) For the purposes of this Article, “public debt” includes the
interest on that debt, sinking fund payments in respect of that debt
and the costs, charges and expenses incidental to the management
of that debt.
209. (1) There is established a Compensation Fund for the
purpose of settling claims against the State.
Compensation
Fund
(2) The management of the Compensation Fund shall be
prescribed.
210. (1) A State organ, State institution and other public office
shall procure goods or services, in accordance with a system that
is fair, equitable, transparent, competitive and cost-effective, as
prescribed.
Public
procurement
and disposal
of State
assets
(2) A major State asset shall be sold, transferred or otherwise
disposed of, as prescribed, subject to the approval of the National
Assembly signified by a vote of at least two-thirds of the Members
of Parliament.
(3) For the purposes of this Article, “major State asset” includes
a parastatal and equity held by the Government, as prescribed.
211. (1) The Minister responsible for finance shall, within three
months after the end of each financial year, prepare and submit to
the Auditor-General the financial report of the Republic in respect
of the preceding financial year.
(2) The Auditor-General shall, within two months of receipt of
the financial report, examine the financial report and express an
opinion on the report.
(3) The Minister responsible for finance shall, within one month
after the receipt of the Auditor-General’s opinion, lay the financial
report, with the Auditor-General’s opinion, before the National
Assembly.
(4)
The financial report shall include information on—
(a) revenue received by the Republic during that financial
year;
Financial
report of
Republic