Section 22 Petroleum Industry Act 2021

Section 22 Petroleum Industry Act 2021 is about Statement of estimated income and expenditure of the Commission. It is under Part III (The Commission) of Chapter 1 (Governance and Institutions) of the Act.

(1) The Commission shall, not later than 30th of September of each year or such other date that the Minister responsible for Budget and National Planning may determine, prepare and present to the National Assembly, a statement of estimated income and expenditure of the Commission for the next financial year.

(2) Notwithstanding the provisions of this section, the commission may, in each financial year, submit to the National Assembly, supplementary or adjusted statements of estimated income and expenditure of the commission.

(3) The financial year of the Commission shall be a period or 12 calendar months commencing on the 1st of January in each year or such other date as the Minister of Finance may detemine.