The Government Financial Management (Livestock Restocking and EnterprisesDevelopment Fund) Regulations, 2009

Legal Notice 58 of 2009

This is the latest version of this Legal Notice.
Citation
Legal Notice 58 of 2009
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Government Financial Management Act
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Legal Notice
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LAWS OF KENYA

GOVERNMENT FINANCIAL MANAGEMENT ACT

THE GOVERNMENT FINANCIAL MANAGEMENT (LIVESTOCK RESTOCKING AND ENTERPRISESDEVELOPMENT FUND) REGULATIONS, 2009

LEGAL NOTICE 58 OF 2009

  • Published in Kenya Gazette Vol. CXI—No. 47 on 29 May 2009
  • Commenced on 29 May 2009
  1. [Amended by Government Financial Management (The Livestock Restocking And Enterprises bevelopment Fund) (Amendment) Regulations, 2012 (Legal Notice 148 of 2012) on 4 January 2013]

1. Citation

These Regulations may be cited as the Government Financial Management (Livestock Restocking and Enterprises Development Fund) Regulations, 2009.

2. Interpretation

In these regulations, unless the context otherwise requires—“Board” means the Supervisory Board Constituted under regulation 6;“Enterprise” means business ventures dealing in production, processing andmarketing of livestock and livestock products;“financial year” means the period of twelve months ending on the 30th June in each year;“Fund” means the Livestock restocking and Enterprises Development Fund established under regulation 3;“Minister” means the Minister for the time being responsible for livestock development;“officer administering the Fund” means the Permanent Secretary of the Ministry for the time being responsible for livestock development;“pastoral and agro-pastoral communities” means communities residing in the Arid and Semi-Arid Lands of Kenya whose main source of livelihood is livestock rearing;“Restocking” means restoring livestock ownership where they have been lost through disaster.

3. Establishment of the Fund

(1)There is established a Fund to be known as the Livestock Restocking and Enterprises Development Fund.
(2)The Fund shall consist of—
(a)monies appropriated by parliament;
(b)grants and donations;
(c)income generated from the proceeds of the Fund.

4. Object and purpose of the Fund

The object and purpose of the Fund is to provide—
(a)grants to livestock producers for emergency interventions;
(b)loans to livestock producers and pastoralists for restocking after losses occasioned by calamities;
(c)loans to Medium and Small Enterprises dealing in livestock and livestock products; and
(d)credit facilities for livestock related micro-enterprises in pastoral and agro-pastoral areas.

5. Capital of the Fund

The initial capital of the Fund shall be two hundred million shillings appropriated by Parliament and additional contributions shall be on the basis of approved estimates.

6. Establishment and composition of the Board

There is established a Board to be known as the Supervisory Board which shall consist of—
(a)a chairman not being a public officer, appointed by the Minister;
(b)the Permanent Secretary of the Ministry for the time being responsible for finance;
(c)the Permanent Secretary of the Ministry for the time being responsible for Provincial Administration and Internal Security;
(d)the Permanent Secretary of the Ministry for the time being responsible for Agriculture;
(e)the Director of Veterinary Services;
(f)five persons appointed by the Minister, two of whom shall be women, not being public officers and who shall have knowledge and experience in livestock management, range management, conflict management and the general political economy of livestock management Arid and Semi-Arid Lands;
(g)the Director of Livestock Production, who shall be the Secretary.
[L.N. 148/2012, r. 2.]

7. Duties of the Board

The Board shall—
(a)through selection procedure, appoint Credit and Loans; Implementing Agencies under the Fund, from a network of qualifying institutions, thereafter referred to as financial intermediaries;
(b)determine how much money is to be given out to each financial intermediary to be used as the basic credit or loan fund and the amount of agency fee to be paid to the financial intermediary;
(c)manage the Fund and advise the Minister generally on the operation of the Fund.

8. Expenditure on the Fund

(1)The expenditure incurred on the Fund shall be on the basis of, and limited to, annual work programmes and cost estimates which shall be prepared by the officer administering the Fund, and approved by the Board, at the beginning of the financial year to which they relate.
(2)Any revision of the approved annual work programmes, and of any cost estimates, shall be referred to the Board for approval.

9. Retention of receipts and earnings

All receipts, earnings and accruals to the Fund, and the balance of the Fund at the close of each financial year shall be retained by the Fund for the purpose for which it is established.

10. Application of the financial and procurement regulations

(1)Existing Government financial and procurement regulations and procedures shall apply in the administration of the Fund.

11. Administration of the Fund

The officer administering the Fund shall—
(a)supervise and control the administration of the Fund;
(b)consult with the Supervisory Board on matters relating to the administration of the Fund;
(c)cause to be kept books of accounts and other books and records in relation to the Fund of all activities and undertakings financed from the Fund;
(d)prepare, sign and transmit to the Controller and Auditor-General, in respect of each financial year and within three months after the end thereof, a statement of accounts relating to the Fund. The statement shall be prepared in such a manner as the Treasury shall prescribe;
(e)furnish such additional information as he may deem to be proper and sufficient for the purpose of examination and audit by the Controller and Auditor-General in accordance with the provisions of the Public Audit Act (No. 12 of 2003).

12. Winding-up of Fund

In the event of winding up the Fund, the cash balances shall be transferred to the Exchequer while other assets of the Fund shall be transferred to the Ministry for the time being responsible for livestock development.
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