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Natural Resource Fund Act 2019

This document is part of the source library for NRGI's 2021 Resource Governance Index, a comprehensive measure of the quality of natural resource governance in oil, gas and mineral-rich countries. To access the full dataset and all other index resources, visit https://resourcegovernanceindex.org.

Data and Resources

Additional Info

Field Value
Sector Oil and Gas
Country Guyana
Year
RGI Edition Year 2021
Topic Legislation and regulation, Mandatory payment disclosure, Open data, Revenue management, Revenue sharing, Sovereign wealth funds, Subnational governance, Tax policy and revenue collection
Document Type PDF
RGI Sub-component
RGI Questions 1.2.1a: Does the government publicly disclose data on the volume of extractive resource production?,
1.2.3a: Is the government required to publicly disclose data on payments from extractive companies to the government?,
1.2.4a: Does the government publicly disclose data on the value of tax/payment receipts?,
2.1.2a: Does the country have a numerical fiscal rule?,
2.1.2b: Do rules require that an external body periodically monitor the government's adherence to the numerical fiscal rule?,
2.2b: Are there specific rules governing the transfer of extractive resource revenues (i.e. are these rules distinct from those governing other types of transfers)?,
2.2.1a: Do rules specify which subnational agencies receive the extractive resource revenues transferred from the central government?,
2.2.2a: Do rules specify a formula governing the transfer of extractive resource revenues between the central government and subnational governments?,
2.2.2b: If there is a formula governing the transfer of extractive resource revenue between the central government and subnational governments, does this formula specify the amount of revenue received by each subnational government?,
2.2.3a: From 2015 onwards, did the central government disclose the amount of revenues transferred to subnational governments?,
2.2.3b: How up-to-date is the information publicly disclosed by the central government on the amount of revenues transferred to subnational governments?,
2.2.3c: From 2015 onwards, has the central government publicly disclosed the amount of revenue transferred by revenue stream?,
2.3a: Does the country have a natural resource fund which is funded by extractive resource revenues?,
2.3.1b: Do rules require that withdrawals and spending from the sovereign wealth fund pass through the national budget?,
2.3.3a: Is the sovereign wealth fund prohibited from investing in domestic assets without budgetary approval?,
2.3.4e: From 2015 onwards, has the sovereign wealth fund adhered to rules limiting asset class or investment types?,
2.3.6a: Does the sovereign wealth fund publicly disclose its annual financial reports?,
2.3.2a: Does the sovereign wealth fund's most recent publicly available annual financial report specify the size of the fund?,
2.3.2b: Does the sovereign wealth fund's most recent publicly available annual financial report disclose?,
2.3.4a: Does the sovereign wealth fund's most recent publicly available annual financial report specify the rate of return made on its investments?,
2.3.4b: Does the sovereign wealth fund's most recent publicly available annual financial report include a list of assets held?,
2.3.4c: Does the sovereign wealth fund's most recent publicly available annual financial report specify the fund's asset allocation by asset class?,
2.3.6b: Were these annual financial reports audited over the most recently completed audit timeframe?,
2.3.6c: From 2015 onwards, has the legislature reviewed the sovereign wealth fund's annual financial reports?,
5.11a: Do rules require that funds transferred to/from the sovereign wealth fund are transferred via the government's general unified account (e.g. treasury account)?,
5.12a: Does the sovereign wealth fund publicly disclose its governance structure?,
5.12c: Does the sovereign wealth fund publicly disclose the names of external asset managers, along with their assets under management and fees?
Did this document contribute to RGI scoring? Used for scoring
Are the RGI questions here tagged with law and/or practice Law and
Practice (Both)
Publisher
Author
Source or API link https://parliament.gov.gy/publications/acts-of-parliament/natural-resources-fund-act-2019
Maintainer Natural Resource Governance Institute
Maintainer Email Natural Resource Governance Institute