(c)
how the money has been used.
(4)
Parliament may authorise Government to enter into an agreement for the giving of
a loan or a grant from any public fund and any agreement by which such loan is given shall be
presented to Parliament for approval.
8.
Public debt. (Article 160)
All public debts of Uganda shall be paid out of the Consolidated Fund and other public
funds of Uganda.
9.
The Central Bank of Uganda. (Article 161)
(1)
The Bank of Uganda is the central bank of Uganda and the only authority to
issue the currency of Uganda.
(2)
The authority of the Bank of Uganda lies in a Board consisting of a
governor and deputy governor and not more than five members all of whom are appointed
by the President with the approval of Parliament for a period of five years but eligible for
reappointment.
10.
Removal of a board member. (Article 161(5))
A member of the board may be removed from office for inability to perform the functions
of the office, misbehaviour or misconduct or incompetence.
11.
Functions of the Central Bank of Uganda. (Article 162)
(1)
(a)
(b)
(c)
(d)
The functions of the bank shall be—
to maintain the stability of the value of the currency of Uganda;
to control the currency system;
to encourage and promote economic development and proper use of the
resources of Uganda through effective and efficient operation of a banking
and credit card system; and
to do such other things as may be specified by the law.
(2)
In performing its duties the bank shall not be subject to the control of any
body or authority.
12.
Auditor General. (Article 163)
(1)
There shall be an Auditor General appointed by the President with approval
of Parliament.
(2)
(a)
(b)
A person shall not be appointed Auditor General unless he or she—
is a qualified accountant of not less than fifteen years’ standing; and
is a person of high moral character and proven integrity.
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