S.L. 542.5 Art. 8Financial arrangements. Cap. 601.

(1) The Agency shall be governed by the provisions of the Public Finance Management Act.

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

(3) For such purpose the Agency shall levy all fees, rates and other payments prescribed or deemed to be prescribed by or under this Order or any other law related to the powers and functions of the Agency.

(4) The Agency shall also 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 any of its expenditure that cannot be met out of its revenue and the costs of specified works to be continued or otherwise carried out by the Agency.

(5) Any excess of revenue over expenditure shall, subject to such directives as the Minister, after consultation with the Minister of Finance, may 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 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 (3) or any such excess as aforesaid.

(6) 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 Minister.