Section 18: General Fund

18. General Fund (1) The Authority shall establish a General Fund— (a) into which monies received by the Authority shall be paid; and (b) out of which all payments required to be made by the Authority shall be effected. (2) The General Fund shall be managed by the Authority. (3) The Authority may, in furtherance of its objects and in accordance with the terms and conditions under which funds may have been obtained, charge to the General Fund all remuneration, allowances, salaries, fees, pensions and superannuation fund contributions, working expenses, travel expenses and all other charges necessarily arising. (4) The Authority shall, not later than 3 months before the commencement of each financial year, prepare a detailed proposed budget of income and expenditure for that financial year. (5) Notwithstanding any other enactment, any surplus in the General Fund at the end of any financial year shall be credited into the Universal Service Fund.