MOTION -- LIMIT ON THE AGGREGATE AMOUNT OF DEBT OBLIGATIONS



WHEREAS the Fiscal Management and Accountability Act was assented to
by His Excellency the President of Guyana on the 16th December, 2003;

AND WHEREAS the said Act is intended, inter alia, to improve
accountability in fiscal management;

AND WHEREAS Section 81 of the said Act makes provision for the
forgiveness, postponement or reduction of debts by the Minister of Finance;

AND WHEREAS Section 81(3) of the said Act provides that the National
Assembly may set a limit on the aggregate amount of debt obligations that may be
forgiven, postponed or reduced by the Minister of Finance without the approval of the
National Assembly in any fiscal year;

BE IT RESOLVED:
That this National Assembly hereby sets a limit of $10
million (ten million dollars) as the aggregate amount of debt
obligations that may be forgiven, postponed or reduced without the
approval of the National Assembly;

BE IT FURTHER RESOLVED:
That this limit takes effect from fiscal year 2007.

(Notice Paper No. 213 (M 58 Opp 16) published on 2008-01-18)

Date for Order Paper: 2008-02-07

NINTH PARLIAMENT OF GUYANA � FIRST SESSION (2006-2008) NATIONAL ASSEMBLY NOTICE PAPER NO. 213 Date Received: 2007-05-09 Member Giving Notice: Mr. Winston Murray, C.C.H., M.P. MOTION LIMIT ON THE AGGREGATE AMOUNT OF DEBT OBLIGATIONS