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(1) Commencing in the year 2011 until the year when petroleum production ceases, the following rules shall apply:

(a) where petroleum revenue collected in each quarter of any financial year exceeds one-quarter of the Annual Budget Funding Amount of the financial year, as determined in section 18, the United States Dollar equivalent of the excess revenue collected shall be transferred from the Petroleum Holding Fund into the Ghana Petroleum Funds, and

(b) A minimum of thirty percent of the excess revenue determined in subsection (1) (a) shall be transferred into the Ghana Heritage Fund and the balance shall be transferred into the Ghana Stabilisation Fund each quarter.

(2) The split in subsection (1) (b) of the excess revenue shall be reviewed every three years, exclusive of the year of revision, with the first revision to occur in 2014.

(3) The accumulated resources of the Ghana Stabilisation Fund shall not exceed an amount recommended by the minister and approved by Parliament and the amount shall be reviewed from time to time as necessitated by macroeconomic conditions.

(4) Once the amount is attained, subsequent transfers into the Ghana Stabilisation Fund shall be allocated as transfers into the Contingency Fund or for debt repayment approved by Parliament.

(5) The transfer and any subsequent transfers shall be made not later than the end of the month after the quarter in respect of which the excess revenue was calculated.