ADVOKS GLOBAL · KENYA
Constituencies Development Fund Act
42. Constituency account
Edition: 2022-12-31 · In force
42. Constituency account
(1)For the purpose of disbursement of funds under this Act there shall be opened and maintained a constituency account for every constituency at any commercial bank, approved by the Cabinet Secretary into which all funds shall be kept and such an account shall be known by the name of the constituency for which it is opened and each constituency shall maintain only one account.(2)The bank account opened pursuant to subsection (1), shall be separate from that of the County Treasury.(3)At least three signatories shall be required for every cheque or instrument for actual payment or withdrawal of funds from a constituency account and the signing instructions shall be such that there shall be at least one signature of an officer seconded by the Board and at least two signatures of two members of the Constituency Development Fund Committee.(4)The Fund account manager shall hold the authority to incur expenditure of the funds at the constituency account.(5)Funds from the constituency account shall only be withdrawn as disbursements for a particular project in accordance with the provisions of section 9 of the Act.(6)Every payment or instruction for payment out of the constituency fund account shall be strictly on the basis of a minuted resolution of the Constituency Development Fund Committee.(7)All receipts, savings and accruals to the constituency account and the balances thereof at the end of each financial year shall be returned to the Board Fund Account.(8)All unutilized funds shall remain in the constituency account and no investment elsewhere shall be permitted, provided that funds meant for a project that is cancelled or discontinued shall be returned to the Fund Account in accordance with section 10 of this Act.(9)All unutilized funds of the Project Management Committee shall be returned to the constituency account.(10)Any accruing revenues, interest and liabilities from any constituency account shall be declared to the Board together with the annual returns.