REPUBLIC OF KENYA PARLIAMENT NATIONAL ASSEMBLY BILLS (No. 45 of 2024) THE PUBLIC FINANCE MANAGEMENT (AMENDMENT) (NO. 4) BILL, 2024 (A Bill published in the Kenya Gazette Supplement No. 190 National Assembly Bills No. 45 of 1st November, 2024 and passed by the National Assembly, with amendments, on 28th November, 2024) N.A. /B/No. 45/2024
The Public Finance Management (Amendment) (No. 4) Bill, 2024 THE PUBLIC FINANCE MANAGEMENT (AMENDMENT) (NO. 4) BILL, 2024 A Bill for AN ACT of Parliament to amend the Public Finance Management Act; and for connected purposes ENACTED by the Parliament of Kenya, as follows— 1. This Act may be cited as the Public Finance Management (Amendment) (No. 4) Act, 2024. 2. Section 25 of the Public Finance Management Act (in this Act referred to as the "principal Act") is amended— (a) in subsection (7) by deleting the word "fourteen" appearing immediately after the words "not later than," and substituting therefor the words "twentyone"; and (b) in subsection (9) by deleting the word "fifteen" appearing immediately after the words "not later than," and substituting therefor the words "twentytwo", 3. Section 50 of the principal Act is amended— (a) by deleting subsection (2C) and_ substituting therefor the following new subsection— (2C) The provisions of subsection (2A) and (2B) shall come into force on the date that is five years from the date of the commencement of this provision. (b) by inserting the following new — subsection immediately after subsection (2C)— (2CA) The Cabinet Secretary shall, take measures to ensure that borrowing by the national government complies with the threshold prescribed in subsection (2A). 4. Section 194 of the principal Act is amended— (a) in subsection (1), by inserting the following new paragraphs immediately after paragraph (e)— (ea)prescribe a framework for the implementation Short title. roeadegent ot Gpaiza. Amendment of section 50 of Cap, 412A. Amendment of section 194 of Cap. 412A.
The Public Finance Management (Amendment) (No. 4) Bill, 2024 of accrual accounting by the Government: and (eb) prescribe a risk management framework. (b) by inserting the following new subsection immediately after subsection (5)— (6) The framework for the implementation of accrual accounting contemplated under subsection " (1) (ea) shall provide for a transition period of three years from the date of the commencement of subsection (1) (ea).
The Public Finance Management (Amendment) (No. 4) Bill, 2024 I certify that this printed impression is a true copy of the Bill passed by the National Assembly on the 28" November, 2024 Clerk of the National Assembly 0 EO PAR 7 iL, ASSEMBLY P.O. Box 41842 MAT IOS HATOGE, Endorsed for presentation to the Senate in accordance with the provisions of Standing Order 142 of the National Assembly Standing Orders Speaker of the Nai sembly Speaker of the Nai sembly