The Fiscal Responsibility and Budget Management Act
An Act to provide for the responsibility of the Central Government to ensure inter-generational equity in fiscal management and long-term macro-economic stability by achieving sufficient revenue surplus and removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government borrowings, debt and deficits, greater transparency in fiscal operations of the Central Government and conducting fiscal policy in a medium-term framework and for matters connected therewith or incidental thereto.2003
List of Chapters & Sections
All sections
1Short title, extent and commencement2Definitions3Fiscal policy statements to be laid before Parliament4Fiscal management principles5Borrowing from Reserve Bank6Measures for fiscal transparency7Measures to enforce compliance7ALaying of review reports8Power to make rules9Rules to be laid before each House of Parliament10Protection of action taken in good faith11Jurisdiction of civil courts barred12Application of other laws not barred13Power to remove difficulties