Cap. 455 Art. 22SportMaltatomeet expenditure out of revenue.

(1) Without prejudice to the following provisions of this article, SportMalta shall so conduct its affairs that the expenditure required for the proper performance of its functions shall, as far as practicable, be met out of its revenue.

(2) Any excess of revenue over expenditure shall, subject to such directives as the Minister, after consultation with the Minister responsible for finance, may from time to time give, be applied by SportMalta to the formation of reserve funds to be used for the purposes of SportMalta; and without prejudice to the generality of the powers given to the Minister by this sub-article, any directive given by the Minister as aforesaid may order the transfer to the Government, or the application in such manner as may be specified in the directive, of any part of the fees, rates and other payments levied in accordance with this sub-article or any such excess as aforesaid.

(3) Any funds of SportMalta not immediately required to meet expenditure may be invested in such manner as may from time to time be approved by the Minister after consultation with the Minister responsible for finance.