Cap. 643 Art. 16Financial provisions of the Authority. Cap. 601.

(1) The Authority shall be governed by the provisions of the Public Finance Management Act.Without prejudice to the following provisions of this article, the Authority shall so conduct its affairs that so much of the expenditure required for the proper performance of its functions shall, as far as possible, be dispensed out of its revenue.

(2) For this purpose, the Authority shall levy all fees, rates and other payments prescribed or deemed to be prescribed by, or under this Act, or any other law related to the powers and functions of the Authority in consultation with the Minister for finance.

(3) The Authority shall also be paid by Government out of the Consolidated Fund such amounts as the House of Representatives, may from time to time, authorise to be appropriated to mete the costs of specified works or activities to be continued or otherwise carried out by the Authority.

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

(5) Any funds of the Authority not immediately required to mete expenditure may be invested in such manner as may from time to time be decided by the Authority.