FISCAL RESPONSIBILITY COMMISSION (AMENDMENT), ACT 2011

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LAWS OF THE FEDERATION OF NIGERIA 

FISCAL RESPONSIBILITY COMMISSION (AMENDMENT), ACT 2011

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EXPLANATORY MEMORANDUM

This Act seeks to enhance the powers of the Fiscal Responsibility Commission to discharge its function and boost the fiscal profile of the country through ensuring proper remittance of operating surplus of corporations to the Consolidated Revenue Fund of the Federation.

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ARRANGEMENT OF SECTIONS

1. Amendment of FRC Act, 2007.
2. Amendment of Section 2.
3. Amendment of Section 3.
4. Amendment of Section 10.
5. Amendment of Section 21.
6. Amendment of Section 22.
7. Amendment of Section 51.
8. Amendment of Section 55.
9. Amendment of the Schedule.
10. Short title.

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FISCAL RESPONSIBILITY COMMISSION (AMENDMENT) ACT

An Act to amend the Fiscal Responsibility Commission (Establishment) Act, 2007 to empower the Commission to enforce remittance or revenues of the Consolidated Revenue Fund of the Federation, provide for the Administrative Structure, penalties and for related matters.

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Enacted by the National Assembly of the Federal Republic of Nigeria as follows-

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