Cap. 588 Art. 22Finance.

(1) The Agency shall cause to be prepared in every financial year, and shall not later than four (4) weeks after the end of each such year adopt, estimates of the income and expenditure of the Agency for the next following financial year and submit them for the consideration of the Minister in accordance with norms and practices established by the Minister responsible for finance.

(2) The Agency shall be funded by the Government out of the Consolidated Fund through such sums as the House may from time to time authorise and through such sums as may be authorised by any other law, to be appropriated to meet the cost of its operational and capital expenditure identified in its financial business plan or budget.

(3) Any excess of revenue over expenditure shall, subject to such directives as the Minister may, after consultation with the Minister responsible for finance, from time to time give, be applied by the Agency to the formation of reserve funds to be used for the purposes of the Agency, 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 of such funds in such manner as may be specified in the directive.

(4) Any funds of the Agency not immediately required to meet expenditure may be invested in such manner as may from time to time be approved by the Board.