The Public Finance Management (Youth Enterprise Development Fund) (Revocation) Regulations

Legal Notice 81 of 2019

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Legal Notice 81 of 2019
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Public Finance Management Act
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LAWS OF KENYA

PUBLIC FINANCE MANAGEMENT ACT

THE PUBLIC FINANCE MANAGEMENT (YOUTH ENTERPRISE DEVELOPMENT FUND) (REVOCATION) REGULATIONS

LEGAL NOTICE 81 OF 2019

  • Published in Kenya Gazette Vol. CXXI—No. 79 on 21 June 2019
  • Commenced on 21 June 2019
  1. [Revised by 24th Annual Supplement (Legal Notice 221 of 2023) on 31 December 2022]

1. Citation

These Regulations may be cited as the Public Finance Management (Youth Enterprise Development Fund) (Revocation) Regulations.

2. Winding up

The Youth Enterprise Fund established under the Government Financial Management (Youth Enterprise Development Fund) Regulations (L.N. 167/2006) is wound up.

3. Transfer of outstanding amounts

(1)Any amounts remaining in the Youth Enterprise Development Fund shall be paid into the National Exchequer Account for the credit of the national government.
(2)The Cabinet Secretary shall, with the approval of the National Assembly, pay any deficit in the Fund from funds of the national government in the National Exchequer Account.
(3)Any outstanding loan between the Youth Enterprise Development Fund and a beneficiary shall on the commencement of these Regulations, become a loan between the Biashara Kenya Fund established under regulation 3 of the Public Finance Management (Biashara Kenya Fund) Regulations, 2019 and the same beneficiary, with the same rights and subject to the same obligations and the loan shall be deemed to be a single continuing loan.

4. Revocation of LN 167 of 2006

The Government Financial Management ((Youth Enterprise Revocation Development Fund) Regulations (L.N. 167/2006) are revoked.
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31 December 2022 this version
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