https://legal.ghanainfocentre.com/index.php?action=history&feed=atom&title=Petroleum_Revenue_Management_Act%2C_2011_%28Act_815%29 2026-08-15T06:22:04Z Revision history for this page on the wiki MediaWiki 1.43.6 https://legal.ghanainfocentre.com/index.php?title=Petroleum_Revenue_Management_Act,_2011_(Act_815)&diff=955&oldid=prev 2024-09-07T07:50:06Z

<p>Created page with &quot;==ARRANGEMENT OF SECTIONS== &#039;&#039;Preliminary matters&#039;&#039; :1. Application :2. Establishment of Petroleum HoldLl1g Fund :3. Payment into Petroleum Holding Fund :4. Payment with petroleum in place of cash :5. Prohibited use of Petroleum Holding Fund :6. Petroleum Holding Fund receipts &#039;&#039;Other petroleum receipts&#039;&#039; :7. Carried and participating interest :8. Transparency and accountability of petroleum receipts &#039;&#039;Allocations and disbursements&#039;&#039; :9. Establishment and object of th...&quot;</p> <p><b>New page</b></p><div>==ARRANGEMENT OF SECTIONS==<br /> <br /> &#039;&#039;Preliminary matters&#039;&#039;<br /> :1. Application<br /> :2. Establishment of Petroleum HoldLl1g Fund<br /> :3. Payment into Petroleum Holding Fund<br /> :4. Payment with petroleum in place of cash<br /> :5. Prohibited use of Petroleum Holding Fund<br /> :6. Petroleum Holding Fund receipts<br /> <br /> &#039;&#039;Other petroleum receipts&#039;&#039;<br /> :7. Carried and participating interest<br /> :8. Transparency and accountability of petroleum receipts<br /> <br /> &#039;&#039;Allocations and disbursements&#039;&#039;<br /> :9. Establishment and object of the Ghana Stabilisation Fund<br /> :10. Establishment and object of the Ghana Heritage Fund<br /> :11. Ghana Petroleum Funds<br /> :12. Withdrawals from the Ghana Stabilisation Fund<br /> :13. Withdrawals from the Ghana Heritage Fund<br /> :14. Finality of payments<br /> :15. Reconciliations of Petroleum Holding Fund<br /> :16. Disbursement from the Petroleum Holding Fund<br /> :17. Benchmark Revenue<br /> :18. The Annual Budget Funding Amount<br /> :19. Transfers into the Consolidated Fund<br /> :20. Consolidation of Ghana Stabilisation Fund and Ghana Heritage Fund<br /> :21. Use of the Annual Budget Funding Amount<br /> :22. Extra budgetary activities and statutory earmarking prohibited<br /> :23. Transfers into the Ghana Heritage Fund and Ghana Stabilisation Fund<br /> :24. Transfers for exceptional purposes<br /> <br /> &#039;&#039;Management and investment of Ghana Petroleum Funds&#039;&#039;<br /> :25. Obligations of the 11:inister<br /> :26. Management obligations of the Bank of Ghana<br /> :27. Investment rules<br /> :28. Reports on the Ghana Petroleum Funds<br /> :29. Establishment of Investment Advisory Committee<br /> :30. Functions of the Investment Advisory Committee<br /> :31. Appointment of members of the Investment Advisory Committee<br /> :32. Tenure of office of members<br /> :33. Meetings the Investment Advisory Committee<br /> <br /> &#039;&#039;Disclosure of interest&#039;&#039;<br /> :35. Publication of membership of the Investment Advisory Committee<br /> :36. Allowances<br /> :37. Secretariat of the Investment Advisory Committee<br /> :38. Absence of advice from the Investment Advisory Committee<br /> :39. Release of advice from the Investment Advisory Committee<br /> :40. Oversight of and reporting on the Ghana Petroleum Funds<br /> <br /> &#039;&#039;Encumbrances, auditing and reporting&#039;&#039;<br /> :41. Encumbrances on the assets of the Petroleum Holding Fund and the Ghana Petroleum Funds<br /> <br /> &#039;&#039;Audit of the Petroleum Funds&#039;&#039;<br /> :42. Public funds<br /> :43. Books of the Petroleum Funds<br /> :44. Internal audit<br /> :45. External audit<br /> :46. Annual audit<br /> :47. Special audits<br /> :48. Annual report on the Petroleum Funds<br /> <br /> &#039;&#039;Accountability, transparency and public oversight&#039;&#039;<br /> :49. Transparency as a fundamental<br /> :50. Non-compliance with an obligation to publicise information<br /> :51. Public Interest and Accountability Committee<br /> :52. Objects of the Accountability Committee<br /> :53. Functions of the Accountability<br /> :54. Membership of the Public Interest and Accountability Committee<br /> :55. Tenure of members and eligibility for appointment<br /> :56. Reporting<br /> :57. Allowances<br /> <br /> &#039;&#039;Miscellaneous matters&#039;&#039;<br /> :58. Penalties<br /> :59. Transitional and final provisions<br /> :60. Regulations<br /> :61. Interpretation<br /> <br /> SCHEDULES<br /> <br /> <br /> ==PURPOSE==<br /> AN ACT to provide the framework for the collection, allocation and management of petroleum revenue in a responsible, transparent, accountable and sustainable manner for the benefit of the citizens of Ghana in accordance with Article 36 of the constitution and for related matters.<br /> <br /> <br /> ==DATE OF ASSENT==<br /> 11th April, 2011.<br /> <br /> ==ACT==</div>

Oblitey