Deposit Protection Act · s 20

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s 20Source of funds

(1)

For the purposes of this Act, the Corporation shall maintain and administer a fund which shall comprise —

(a)

all premiums received by the Corporation under this Act;

and

(b)

all other monies and assets which may in any manner become lawfully payable to, and received by or vested in the

Corporation relating to any matter incidental to its powers, duties and functions,

(2)

The Corporation is empowered —

(a)

to credit all direct operating income to, or charge all expenses, costs and losses against the fund; or

(b)

where such income, expenses, costs or losses cannot be specifically attributed to the fund, such credit or charge shall be proportional to the amount of premiums collected in the assessment year prior to the year in which such credit or charge is made.

(3)

In relation to the first assessment year of the Corporation, such credit or charge under subsection (2)(b) shall be determined by the

Corporation.