S.L. 595.49 Art. 23Finances.

(1) The Agency shall draw up yearly estimates for each financial year and submit them for consideration of the Minister in accordance with the norms and practices established by the Minister responsible for finance.

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

(3) The Minister may, after consultation with the Minister responsible for finance, give directives with a view to applying any excess of revenue over expenditure to the formation of reserve funds to be used for the purposes of the Agency. 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 Advisory Board.