Seychelles 1993 Constitution (reviewed 2017)

CHAPTER XII. FINANCE

1. 1. There shall be a Consolidated Fund into which shall be paid all revenues or other moneys raised or received for purposes or on behalf of the Republic, not being revenues or other moneys that are payable by or under an Act for some specific purpose or into some other fund established under an Act for a specific purpose.

152

1. 1. 1. No moneys shall be withdrawn from the Consolidated Fund except-
         1. to meet expenditure that is charged on the Fund by this Constitution or by an Act; or
         2. Where the issue of those moneys has been authorised-
            1. by an Appropriation Act;
            2. by a supplementary estimate approved pursuant to article 154(7) by resolution of the National Assembly passed in that behalf of; or
            3. Under article 155.
      2. No moneys shall be withdrawn from any public fund, other than the Consolidated Fund, unless the issue of those moneys has been authorised by or under an Act.
   2. The public debt of Seychelles shall be a charge on the Consolidated Fund and other public funds established by or under this Constitution.

154

1. 1. The Minister shall, not later that the thirtieth day after the beginning of each financial year, lay before the National Assembly the estimates of revenue and expenditure of the Government for the financial year.
   2. The Minister shall, before presenting the estimates under clause (1), obtain the approval of the Cabinet in respect of the estimates.
   3. The estimates referred to in clause (1) shall include-
      1. a statement of the public debt at the beginning of the financial year showing-
         1. a bilateral, multilateral, institutional and commercial debts;
         2. whether the debt in each case referred to in subparagraph (i) is foreign or domestic;
         3. in the case of a domestic debt, the type and aggregate amount of the debt instrument issued;
      2. a statement of the expected debt at the end of the financial year;
      3. a profile of the debt repayment and servicing requirement for the next ten subsequent financial years;
      4. a statement of the outstanding guarantees given by the Government and the Central Bank of Seychelles;
      5. a statement of official reserves, clearly identifying the reserves held at the beginning of the financial year by the Central Bank, the Government and the banking section in aggregate, the expected holdings by the Central Bank, Government and banking sector at the end of the financial year and the extent to which the official reserves are expected to be drawn down or increased during the financial year;
      6. a statement of the fiscal outcome and effect showing a full abstract of the Consolidated Fund for the immediately preceding financial year.
   4. The estimates of expenditure referred to in clause (1) shall show separately-
      1. the estimates of expenditures required to meet expenditures charged on the Consolidated Fund; and
      2. the sums required to meet other expenditures during the financial year.
   5. The heads of expenditures referred to in clause (4)(b) shall be included in a Bill, to be known as the Appropriation Bill, which shall be introduced in the National Assembly to provide for appropriation from the Consolidated Fund of the sums of money necessary to meet the expenditures.
   6. Where, in respect of any financial year, it is found-
      1. that the amount appropriated by the Appropriation Act for any purpose is insufficient or that a need has arisen for expenditure for a purpose for which no amount has been appropriated by that Act; or
      2. that any moneys have been expended for any purpose in excess of the amount appropriated for that purpose by that Act or for a purpose for which no amount has been appropriated by that Act, a supplementary estimate, showing the sum of money required or spent, shall be laid before the National Assembly.
   7. Where, in respect of any financial year, a supplementary estimate laid before the National Assembly in accordance with clause (6) has been approved by resolution by the National Assembly, a supplementary Appropriation Bill shall be introduced in the Assembly in the financial year next following the year to which the estimate relates, providing for the appropriation of the sums so approved for the purposes specified in that estimate.
   8. The Minister shall, after approval by the Cabinet and within ninety-one days after the end of each financial year, provide to the National Assembly in respect of that year-
      1. full details of all accounts maintained in respect of the Consolidated Fund showing amounts actually received and spent in that year;
      2. statements of fiscal outcome and effect showing separately actual components of fiscal outcome, position and effect, and, in the case of fiscal effect, separate disclosure shall be made of actual additional borrowings, movements in cash balances, of the Central Bank of Seychelles and other bank and non-bank borrowings;
      3. a statement of actual outstanding debt at the end of the financial year showing separately bilateral, multilateral, institutional, foreign and domestic debt, type and aggregate amounts of debt instruments outstanding and in the case of new or restructured debt or debt in default, a separate disclosure giving full details thereof;
      4. statements of outstanding guarantees given by Government and the Central Bank of Seychelles showing separately guarantees that have been renewed, new guarantees given and guarantees that have been called up and, details of such guarantees together with a statement of guarantees that have expired during the financial year.
      5. a statement of actual official reserves identifying those held by the Central Bank of Seychelles and there shall be shown separately the extent to which those reserves are borrowed or encumbered in any way;
      6. as far as is practicable, a statement of assets and liabilities of the Government at the end of the financial year; and
      7. such other statements as the Minister may think fit.
   9. For the purposes of this Chapter,
      • “financial year” means any period of twelve months beginning on 1st January in any year or any other date as may be prescribed by or under an Act;
        
        “Minister” means the Minister responsible for finance and includes the Vice-President where the Vice-President is responsible for the Ministry or department of finance.

2. Where the Appropriation Act in respect of any financial year has not come into operation by the beginning of the financial year, the National Assembly by resolution may authorise the withdrawal of moneys from Consolidated Fund for the purpose of meeting expenditure necessary to carry on the service of the Government until the expiration of four months from the beginning of the financial year or the coming into operation of that Appropriation Act, whichever is the earlier.

156

1. Provision may be made in an Act for the establishment of a Contingencies Fund and for authorizing the Minister, if the Minister is satisfied that there is an urgent and unforeseen need for expenditure for which no other provision exists, to make advances from that Fund to meet that need.
2. Where any advance is made from the Contingencies Fund, a supplementary estimate shall, as soon as is practicable, be laid before the National Assembly for the purpose of authorizing the replacement of the amount so advanced.
3. An Act may provide for establishment of other funds for any purpose specified in the Act.

157

1. Subject to this article, no taxation shall be imposed or altered except by or under an Act.
2. An Act may make provision under which the President or a Minister may by order provide that on or after the publication of a Bill, being a Bill approved by the President, that it is proposed to introduce in the National Assembly providing for the imposition or alteration or taxation, such provisions of the Bill as may be specified in the order shall, until the Bill becomes law, have the force of law for such period and subject to such conditions as may be prescribed by an Act.
3. An order made under clause (2) shall, unless sooner revoked, cease to have effect-
   1. if the Bill to which it relates is not passed within such period from the date of its first reading in the National Assembly as may be prescribed by an Act;
   2. if, after the introduction of the Bill to which it relates, the National Assembly is dissolved; or
   3. at the expiration of a period of four months from the date the order came into operation, or such longer period from that date as may be specified in any resolution passed by the National Assembly, after the Bill to which it relates has been introduced.

158

1. There shall be an Auditor-General who shall be appointed by the President from candidates proposed by the Constitutional Appointment Authority.
2. A person shall not be appointed Auditor-General unless the person has not less than seven years experience as an auditor or qualified accountant.
3. The accounts of the Cabinet office, the National Assembly, all government departments and offices, all courts and those related to moneys withdrawn from the Consolidated Fund, all the accounts of any statutory corporation or such other body as may be specified by or under an Act shall be audited and reported on by the Auditor-General to the National Assembly and for that purpose the Auditor-General or any person authorised or appointed in that behalf by the Auditor-General shall have access to all books, records, returns, information and other documents relating or relevant to those accounts.
4. The public accounts of Seychelles and of all other persons or bodies referred to in clause (3) shall be kept in such form as the Auditor-General shall approve.
5. The Auditor-General shall, within twelve months of the end of the immediately preceding financial year, submit the report referred to in clause (3) to the National Assembly and shall in that report draw attention to irregularities in the accounts audited and to any other matter which in the opinion of the Auditor-General ought to be brought to the notice of the Assembly.
6. The Finance and Public Accounts Committee of the National Assembly shall consider the report of the Auditor General and, for that purpose, may summon before the Committee any person who, in the opinion of the Committee, may assist the Committee in its consideration of the report.
7. The Auditor-General shall, in the performance of the functions of the office of Auditor-General, not be subject to the direction or control of any other person or authority, but the President or the National Assembly may request the Auditor General in the public interest, to audit at any particular time, the accounts of any persons or bodies referred to in clause (3)
8. The Auditor-General shall be appointed for a term of seven years but is eligible for reappointment at the end of a term of office.
9. The salary, allowances, gratuity or pension payable to the Auditor- General shall be provided for by or under an Act and shall be a charge on the Consolidated Fund.
10. The Act referred to in clause (9) may provide for other conditions of service of the Auditor -General.
11. Subject to article 165, the term and other conditions of service of the Auditor-General shall not be altered to the disadvantage of the Auditor-General after appointment.