Loans 155
(2)
where any advance is made from the Contingencies Fund, a
supplementary estimate shall be presented, and a
Supplementary Appropriation Bill shall be introduced for
the purpose of replacing the amount so advanced with
ninety days of the advance being made.
(1)
the National Assembly may by resolution supported by the
votes of a majority of all the members, authorise the
Government to enter into an agreement for the granting for
a loan out of any public fund or public account.
(2)
An agreement to which subsection (1) refers shall be laid
before the National Assembly and shall not come into
effect until it is approved by the National Assembly.
No loan shall be raised by the Government on behalf of
itself or any other person or authority otherwise than by or
under the authority of an Act of the National Assembly.
(3)
(4)
An Act of the National Assembly authorising the raising of
a loan shall provide (a)
(b)
(5)
An Act of the National Assembly may provide for the
application of this section, with any necessary
modifications, to (a)
(b)
(6)
(1)
any guarantee by the Government; or
an international business or economic transaction to
which the Government proposes to become a party.
The President shall, at such times as the National Assembly
may require, present to the National Assembly such
information as he or she may have relating to (a)
(b)
Salaries etc. 156
Charged on
Consolidated Fund
that the terms and conditions of a loan shall be laid
before the National Assembly and that the loan
agreement shall not come into operation until they
have been approved by the National Assembly; and
that any money received in respect of a loan shall be
paid into the Consolidated Fund or some Other
public fund of The Gambia.
the granting of loans, their servicing and repayment;
the payment into the Consolidated Fund or other
public fund of money derived from loans raised on
institutions outside The Gambia
The salaries and allowance, and the retirement benefits, of
the holder of the offices to which this section applies shall
be a charge on the Consolidated Fund.