Development of Policy, Legal, and Insitutional Framework for - ppiaf

Development of Policy, Legal, & Institutional Framework for the PPP Program in Malawi
Final Report
Other employees
22. The Agency may appoint, on such terms and conditions as it may determine, such
other employees, subordinate to the Director General, as it considers necessary for the
performance of its function and to assist the Director General in discharging his duties
and responsibilities.
Part V – Financial Provisions
Raising resources for PPP arrangements
47. (1) Subject to subsection (2) and to such guidelines as the Minister may issue, the
Agency may from time to time raise money in any currency.
(2) The combined net aggregate of the principal of all moneys raised and outstanding by
the Agency and any companies formed under Section 13(1)(f) shall not exceed such total
sum as the Minister from time to time set and publish in the Gazette.
(3) The Agency may engage in transactions of a normal banking nature with the Minister
or any Government Authority and any other persons for the purpose of performing any
of its functions.
(4) The Agency may open and operate bank accounts, including accounts in currencies
other than the currency of the Republic of Malawi.
Minister may guarantee loans
48. (1) The Minister may subject to the provisions of the Public Finance Management
Act, 2003, guarantee the due repayment by the Agency or any companies formed under
Section 13(1)(f) of the principal of any moneys raised by the Agency or such companies,
or the payment of interest on such moneys or both the repayment of the principal and
the payment of the interest, and any such guarantee may include a guarantee of the
payment by the Agency or such companies of Unit and incidental expenses arising in
connection with such moneys.
(2) The Minister shall, as soon as may be after the expiration of every financial year, lay
before Parliament a statement setting out with respect to each guarantee given under
this Section during that year or given at any time before, and in force at, the
commencement of that year—
(a) particulars of the guarantee, including the remaining life of the guarantee;
(b) in case any payment has been made by the Minister under the guarantee
before the end of that year; and
THE INSTITUTE FOR PUBLIC-PRIVATE PARTNERSHIPS 124