ADVOKS GLOBAL · KENYA
LAPSSET Corridor Development Authority Order
23. Annual estimates
Edition: 2022-12-31 · In force
23. Annual estimates
(1)At least three months before the commencement of each financial year, the Board shall cause to be prepared estimates of the revenue and expenditure for that year.(2)The annual estimates shall make provision for all estimated expenditure of the Authority for the financial year concerned, and in particular shall provide for—(a)the payment of the salaries, allowances and other charges in respect of the members of the Board and the staff of the Authority;(b)the payment of pensions, gratuities and other charges in respect of retirement benefits to staff of the Authority;(c)the proper maintenance of the buildings and ground of the Authority;(d)the proper maintenance, repair and replacement of the equipment and other movable property of the Authority; and(e)the creation of such reserve funds to meet future or contingent liabilities in respect of retirement benefits, insurance or replacement of buildings or equipment or in respect of such other matters as the Board may consider necessary.(3)The annual estimates shall be submitted to the Board for approval before the commencement of the financial year to which they relate provided that once approved, the sum provided in the estimate shall not be increased without consent of the Board.(4)No expenditure shall be incurred for the purposes of the Authority except in accordance with the annual estimates approved under subparagraph (3) or in pursuance of an authorization by the Board.