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101
Federal Financial Procedure s
115. No tax to be levied or loan to be raised : (1) No tax shall be levied and
collected except in accordance with law.
(2) No loan shall be raised and guarantee given by the Government
of Nepal except as provided for in the Federal law.
116. Federal Consolidated Fund : Except for the revenues of trusts ( Guthi ), all
revenues received by the Government of Nepal, all loans raised on the security
of reven ues, all amount s received in repayment of any loans made under the
authority of any Act and any other moneys received by the Government of
Nepal shall , except as otherwise provided by a Federal Act, be credited to a
Government Fund to be known as the Federal Consolidated Fund.
117. Expenditures from Consolidated Fund or Government Fund : No expenditure
shall be incurred out of the Federal Consolidated Fund or any other Federal
Government Fu nd except the following:
(a) moneys charged on the Federal Consolidated Fund,
(b) moneys required to meet the expenditure under a Federal
Appropriation Act,
(c) advance moneys authorized by a Federal Act required to meet
expenditures, when an Appropriat ion Bill is under consideration,
or
(d) expenditures to be incurred in extraordinary circumstances under
a Federal V ote of Credit Act which contains only a description of
expenditures.
Provided that matters relating to the Federal Contingency Fund shall be
governed by Article 124 .
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118. Expenditures c hargeable on Federal Consolidated Fund : The expenditures
relating to the following matters shall be charged on the Federal Consolidated
Fund, and approval of the Federal Parliament shall not be required for such
expenditures:
(a) the amount required as remuneration and facilities of the
President and the Vice -president,
(b) the amount required as remuneration and facilities payable to the
Chief Justice of Nepal, Judges o f the Su prem e Court, and
members of the Judicial Council,
(c) the amount required as remuneratio n and facilities payable to the
Speaker and the Deputy Speaker of the House of
Representatives, and the Chairperson and the Vice Chairperson
of the National Ass embly,
(d) the amount required as remuneration and facilities payable to the
chiefs and officials of the Constitutional Bodies,
(e) the amount required as remuneration and facilities of the Chiefs
of States,
(f) the administrative expenses of the Office of the President or the
Vice President, the Supreme Court, the Judicial Counci l, the
Constitutional Bodies, and the offices of Chiefs of States,
(g) all charges relating to debts for which th e Government of Nepal
is liable,
(h) any sum required to satisfy any judgment or decree made by a
court against the Government of Nepal, and
(i) any other sum to be chargeable by the Federal law on the Federal
Consolidated Fund.
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119. Estimates of revenues and expenditures : (1) The Minister for F inance of the
Government of Nepal shall, in respect of every financial year, lay before the
joint sitting of both Houses of the Federal Parliament an annual estimate
setting out , inter alia , the following matters:
(a) an estimate of revenues,
(b) the money s required to meet the charges on the Federal
Consolidated Fund, and
(c) the moneys required to meet the expe nditure to be provided for
by a Federal Appropriation Act.
(2) The annual estimate to be laid pursuant to clause (1) shall also be
accompanied by a statement of the expenses allocated to every Ministry in the
previous financial year and particulars of whether the objectives of the
expenses have been achieved.
(3) The Minister for Finance of the Government of Nepal shall lay
before the Federal Parliament an estimate of revenues and expenditures under
clause (1) on the 15th day of Jesta (mid May) each year.
120. Appropriation Act : The moneys to be spent under an Appropriation Act shall
be specified under concerned heads in an Appropriation Bill .
121. Supplementary e stimates : (1) The Minister for Finance of the Government of
Nepal may lay before the House of Representatives a supplementary estimate
if it is found in any financial year, -
(a) that the sum authorized to be spent for a particular service by the
Appropriation Act for the current financial year is insufficient, or
that a nee d has arisen for expenditures on some new service not
provided for by the Appropriation Act for that year, or
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(b) that the expenditures made during that financial year are in
excess of the amount authorized by the Appropriation Act.
(2) The sums include d in the supplementary estimate shall be
specified under the related heads in a Supplementary Appropriation Bill.
122. V otes on a ccount : (1) Notwithstanding anything contained elsewhere in this
Part, a portion of the expenditure estimated for the financial year may, when an
Appropriation Bill is under consideration, be incurred in advanc e, as provided
for in the Federal Act.
(2) A V ote on Accou nt Bill shall not be introduced until the estimates
of revenues and expenditures have been laid in ac cordance with Article 119 ,
and the sums involved in the V ote on Account shall not exceed one -third of the
estimate of expenditures for the financial year.
(3) The expenditures incurred in accordance with the Federal V ote
on Account Act shall be included in the Appropriation Bill.
123. V otes of c redit: Notwithstanding anything contained elsew here in this Part, if
owing to an emergency due to either natural ca uses or a threat of external
aggression or internal disturbances or other reasons, it appears to be
impractical or inexpedient in view of the security or interest of the country to
specify the d etails required under Article 119 , the Minister for Finance of the
Government of Nepal may lay before the House of Representatives a V ote of
Credit Bill giving only a statement of expenditures.