ADVOKS GLOBAL · KENYA
Proceeds of Crime and Anti-Money Laundering Act
54C. Estimates of expenditure
Edition: 2025-11-04 · In force
54C. Estimates of expenditure
(1)The financial year of the Agency shall be the period of twelve months beginning first July and ending on the thirtieth June in each year.(2)The Agency shall within three months before the commencement of the financial year, prepare annual estimates of the expenditure of the Agency for that financial year.(3)The annual estimates shall make provisions for all the estimated expenditure of the Agency for the financial year concerned and in particular, shall provide for—(a)the payment of salaries, allowances and other charges in respect of the Agency Director-General and other staff of the Agency;(b)the payment of pensions, gratuities and other charges and in respect of benefits which are payable out of the funds of the Agency;(c)the maintenance of the buildings and grounds of the Agency;(d)the funding of training, research and development of activities of the Agency; and(e)the creation of such funds to meet future or contingent liabilities in respect of benefits, insurance or replacement of buildings or installations, equipment and in respect of such other matters as the Agency may deem expedient.(4)The annual estimates shall make provisions for all estimated expenditure of the Agency for the financial year to which they relate, including of reserve fund to provide for contingency in the event of an unforeseen increase in expenditure and other emergencies not contemplated at the time of making the estimates.(5)The Advisory Board shall review the estimates forwarded under subsections (2) and (3) and may make such alterations thereto as it may consider necessary, and shall forward the same to the National Assembly for approval.(6)Upon approval of the estimates by the National Assembly, all monies from time to time required for the purposes of this Act shall be paid from the Consolidated Fund into the Agency's bank account.