Public Bodies Management and Accountability Act of 2012 - Jamaica

(1) All contingent liabilities in relation to the public private partnerships, whether in relation to any Government pays public private partnerships or user-pays public private partnerships shall be continually assessed by the Minister.

(2) The Minister shall ensure that there is ful disclosure and regular reporting in contingent liabilities, including the matters referred to in subsections (6) and (9), in each Fiscal Policy Paper to be tabled pursuant to the Financial Administration and Audit Act.

(3) All public private partnerships shall be included in the Public Sector Investment Programme provided for under the Financial Administration and Audit Act,, and be subject to the standars set out in the Public Investment Management System.

(4) A public private partnership shall not be entered into by a public entuty, except with the approval of the Cabinet on the recommendation of the Public Investment Management Commite established under the Financial Administration and Audit Act

(5) For the purposes of section 48C(1)(b) of the Financial Administration and Audit Act

(a) the indebtedness of a public body within the specified public sector, arising from a Government pays private public partnership, shall comprise part of the public debt,

(b) the indebtedness of user-pays public partnerships shall not comprise part of the public debt.

 

(6) Subject to subsection (7), the aggregate contingent liabilities of public bodies within the specified public sector arising in respect of user-pays public private partnerships shall not exceed-

during the three financial years comprising the period beginning on April 1, 2014 and ending on March 31, 2017, three percent of the gross domestic product.

during the nine financial years comprising the period beginning on April 1, 2017 and ending on March 31, 202, eight percent of the gross domestic product

(7) Notwithstanding paragraph (b) of subsection (6) if at any time during the period specified in that paragraph there is a reduction in public debt below sixty per cent of gross domestic product, the  percentage of gross domestic product referred to in that paragraph may be increased to an amount equivalent to but not exceeding the percentage by which the public debt has been reduced below sixty per cent of the gross domestic product.