S.L. 171.2 Art. 33Administration of the Fund.

(1) The Committee shall be responsible to the Minister for the good and proper administration of the Fund.

(2) The Committee may incur expenditure not exceeding one thousand and one hundred and sixty-four euros and sixty-nine cents

(1,164.69) as may be approved by the said Committee at any one of its sittings without the prior authority of the Minister:

Provided that the aggregate amount thus approved by the Committee shall not exceed twenty-three thousand and two hundred and ninety-three euros and seventy-three cents (23,293.73) in any calendar year: Provided further that this regulation does not limit payment of benefits made to port workers, or to persons who have served as port workers, or their widows or widowers and heirs as laid down in these regulations.

(3) Furthermore the Committee shall effect such payments out of the Fund as may from time to time be authorised by the Minister.

(4) Payments out of the Fund shall be made by the Authority, who shall -

(a) keep proper books of accounts approved by the Committee; and

(b) submit to the Committee monthly statements of accounts in such form as the Committee may deem fit.

(5) Every three months the Committee shall refer to the Minister a statement of accounts showing the state of the Fund.