s.26Reports and agreements of Authority
26
Section 26Part 2 — Establishment, Capital and Administration of Authority

Reports and agreements of Authority

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Pursuant to the duty of the Authority to deliver outputs to the Cabinet, the Authority shall prepare and execute an annual purchase agreement with the Cabinet for each financial year in accordance with this section.
A purchase agreement executed under subsection (1) shall specify all the outputs the Cabinet is to purchase from the Authority including for each output —
a description of the output to be purchased;
the quantity of the output to be purchased;
the quality of the output to be purchased;
the delivery dates for the output to be purchased;
the place of delivery of the output to be purchased;
the price to be paid for the output to be purchased;
the evidence of delivery to be provided for the output to be purchased; and
the payment schedule.
The draft purchase agreement for a financial year shall be —
prepared in accordance with the timetable established each year by the Cabinet;
available for review by the Cabinet as part of the Cabinet's collective review phase of the budget process; and
presented to the Legislative Assembly by the Minister or by another member of Cabinet on his behalf at the same time as the annual plan and estimates for that financial year are presented to the Legislative Assembly, which shall occur no later than the 1st May each year.
A finalised purchase agreement shall be —
prepared immediately the legislative review phase of the budget process has been completed;
signed by a member of Cabinet on behalf of the Cabinet, and by the chairman on behalf of the Authority, no later than the beginning of the financial year; and
presented to the Legislative Assembly by the Minister or by another member of Cabinet on his behalf on the next sitting day of the Legislative Assembly after it has been signed.
As soon as the draft purchase agreement or the finalised purchase agreement is presented to the Legislative Assembly it shall be a public document, and the Authority shall provide a copy to any person requesting one on payment of a charge prescribed by regulations made by the Cabinet.
The Authority's purchase agreement may be modified at any time by agreement between the Authority and the Cabinet.
Any amendments to a purchase agreement made under subsection (6) shall be in writing and presented to the Legislative Assembly by the Minister, and subsection (5) shall apply to the amended agreement.

Defined Terms

purchase agreementoutputdelivery dates

Referenced By