Newsletter-21

107 PUBLIC PRIVATE PARTNERSHIP (PPP) allocated to the central management would comprise of the budgets of the institutions listed therein, which include , among others, the MoH. As per the Revolving Capital Law 8 , the revolving capital fund would be comprised of the revenues of the institutions, together with the do- nations and the supports of the third parties. The revolving capital can broadly be defined as the budget allocated to certain government insti- tutions within the central management in order for such institution to carry out supplemental services related to the essential and perpetual public services that such institution undertakes to carry out. In accordance with the Public Finances Management Law, if the budget is insufficient to fulfill the payment obligations of a public institution, such as the MoH, then the expenditures would be paid within the registration order of such expenditure into the accounts. However, certain payments, such as taxes, tolls, charges, premiums, fund deductions, or debts secured by court judgments and the payment obligations, the non-payment of which triggers additional penalties or interest, would have payment priority. It should also be noted that as per the Public Finances Manage- ment Law, payments that are not requested in writing without a valid reason, or the documentation of which is not submitted, are subject to the statute of limitation of five years. In the event that the annual budget of the MoH is insufficient for the payment obligations of the MoH in respect of the healthcare PPP projects, then as per the Law on the Central Management Budget of 2016 9 , the public institutions, such as MoH, are entitled to transfer 20% of the amounts within their own budget. In accordance with the Public Finances Management Law, the Ministry of Finance may be allocated with a reserve amount, which is 2% of the general budget allowances, to cover the deficiency of the payments by the central management. In order to allocate additional funds to the MoH, the Minister of Finance, upon occurrence of certain conditions but at 8 Law on Revolving Capital Allocated to the Healthcare Foundations and Rehabili- tation Facilities under the Authority of the MoH under law no. 209 published in official gazette dated 9 January 1961 and numbered 10702. 9 Law on the Central Management Budget of 2016 under law no. 6682 published in official gazette dated 16 March 2016 and numbered 29655.