Cap. 350 ст. 29Cash deposits and payments.

(1) All moneys of the Authority accruing from any operations under this Act shall be paid into a bank or banks appointed by resolution of the Authority and approved by the Prime Minister. Such moneys shall, as far as practicable, be paid into the bank from day to day, except such sum as the Authority may authorise to be retained to meet petty disbursements and immediate payments.

(2) All payments out of the funds of the Authority, shall be made by such officer or officers of the Authority as the Authority shall appoint or designate for that purpose.

(3) Cheques against or withdrawals from any bank account of the Authority shall be signed by such officer of the Authority as may be designated by the Authority for that purpose and shall be countersigned by the Chairman or such other member of the Authority or other officer of the Authority as may be authorised by the Authority for that purpose.