The Accountant Sep-Oct 2016√(2)

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FINANCE AND INVESTMENT By CPA Simon Peter Ole Nkeri DEVELOPING SPECIAL ECONOMIC ZONES THROUGH PPPs Continued from July - August issue... Role of the PPP Unit Screening and Approval Project Cycle Contracting Authority Submits Project Proposal to PPP Unit 32 SEPTEMBER - OCTOBER 2016
FINANCE AND INVESTMENT 1) A Contracting Authority shall, before commencing negotiations with a private party ; (i) prescribe criteria against which the outcome of negotiations shall be evaluated; (ii) submit the proposal to the unit for consideration and recommendation; (iii) upon obtaining the recommendations of the unit, apply for and obtain approval from the PPP Committee to negotiate the contract; and (iv) conduct negotiations and award the tender in accordance with the prescribed process in the regulations to the PPP Act. consultation with the PPP Unit and upon the approval of the project proposal by the PPP Committee, undertake a feasibility study of the project it intends to implement under a public private partnership for the purpose of determining the viability of undertaking the project under the PPP Act. 2) In undertaking a feasibility study, a Contracting Authority shall consider;— (a) the technical requirements of the project; (b) the legal requirements to be met by the parties to the project; (c) the social, economic and environmental 2) The contracting authority shall constitute a negotiating committee consisting of— (a) one person nominated by the unit from among its members; (b) one person nominated by the node from among its members; (c) such persons representing such State departments as the contracting authority may, in consultation with unit, consider necessary; and (d) where applicable, the transaction advisors appointed by the contracting authority under Section 36 of the PPP Act. Kenya’s Export Processing Zone (EPZ) 2) A Contracting Authority shall not consider a project for procurement under this section unless it is satisfied that— (a) the project shall provide value for money; (b) the project shall be affordable; and (c) the appropriate risks are transferred to the private party. Section 33 of the PPP Act: - Feasibility Study Under the PPP Act, a “Feasibility Study” means a study undertaken to explore the technical, financial, legal, social and environmental feasibility of undertaking an infrastructure or development facility as a public private partnership. 1) A Contracting Authority shall, in impact of the project; and (d) the affordability, value for money and public sector comparator for the project as prescribed in the PPP Regulations. Section 52 of the PPP Act: - Negotiations As appertains to negotiations, Section 52 of the PPP Act provides that:- 1) A Contracting Authority may, with the approval of the PPP Committee— (a) enter into negotiations with the successful bidder; and (b) request the second ranked bidder to extend the validity of its bid pending the completion of negotiations with the successful bidder. 3) The negotiating committee shall enter into negotiations with the successful bidder on the technical and financial terms of the project agreement. 4) The negotiations carried out and the resolution of the parties to the negotiations shall not result in an increase in pricing and shall not affect the nonnegotiable terms and conditions specified as non-negotiable conditions in the invitation to tender, the financial structure, or the conditions in respect of which there were no reservations raised by the bidder. 5) The parties to a negotiation under this section shall not amend the negotiated terms and terms upon which the bid has been evaluated. 6) Where the parties to the negotiations carried out with the successful bidder are SEPTEMBER - OCTOBER 2016 33
Page 1: JOURNAL OF THE INSTITUTE OF CERTIFI
Page 4 and 5: YOUR VIEWS SHARE YOUR VIEWS Email:
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Page 9 and 10: Financial reporting and assurance e
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Page 13 and 14: ADVERTISING FEATURE IPSAS accrual s
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Page 17: Management This is followed by volu
Page 21 and 22: MANAGEMENT The most vile impression
Page 23 and 24: Business Practice and Development i
Page 25 and 26: Business Practice and Development F
Page 27 and 28: BUSINESS Practice and development P
Page 30 and 31: Finance and Investment By CPA/FA Wi
Page 32: FINANCE AND INVESTMENT of its tradi
Page 37 and 38: FINANCE AND INVESTMENT Role of the
Page 39 and 40: GOVERNANCE management. I have used
Page 41 and 42: COVER STORY The new law opens up a
Page 43 and 44: GOVERNANCE should review the plan t
Page 45 and 46: ECONOMY to make and sell socks. Thi
Page 47 and 48: WORK PLACE short-term reserve to he
Page 49 and 50: INSPIRATION What would your charact
Page 51 and 52: Information Technology Customer Exp
Page 53 and 54: HEALTH sensitive than the skin else
Page 55 and 56: SOCIETY how a person who was invite
Page 57 and 58: ENVIRONMENT theme highlights the fi
Page 59 and 60: ENVIRONMENT issues. • Encourage c
Page 61 and 62: TID BITS Magical Rudisha “It is g
Page 64 and 65: INSTITUTE NEWS ICPAK Annual By Staf
Page 66 and 67: ACCOUNTABLE RECIPES Sharon Gatonye
Page 68 and 69: PEN OFF By FCPA Jim McFie, a Fellow
Page 70 and 71: PEN OFF of anti-developmental polic

The Accountant Sep-Oct 2016√(2)

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