Section 20: Establishment of General Fund

20. Establishment of General Fund (1) The Authority shall establish a General Fund— (a) into which all monies, dues, fees and charges received by the Authority shall be paid; and (b) out of which— (i) all payments required to be made by the Authority shall be effected; (ii) shall be paid into the Capital Fund established under the Finance and Audit Act, such surplus money not required for the purposes of subparagraph (i), as the Board may determine. (2) The Authority may, in furtherance of its objects and in accordance with the terms and conditions upon which its funds may have been obtained or derived, charge to the General Fund all remuneration, allowances, salaries, grants, fees, pensions and superannuation fund contributions, gratuities, working expenses and all other charges properly arising, including any necessary capital expenditure. (3) The Authority shall derive its income from— (a) any charge or fee that may be prescribed; (b) any sum appropriated from the Consolidated Fund; and (c) such other source as the Minister may approve. (4) The Authority shall, not later than 3 months before the commencement of every financial year, submit to the Minister for his approval a detailed estimate of its income and expenditure for that year. (5) The Minister may, in signifying his approval, make comments of a general policy nature regarding the estimate. (S. 20 came into operation on 1 June 2002.) [Issue 9] I12 – 14 Revised Laws of Mauritius