Statutory Corporations (Contributions to Consolidated Fund) Act · 2024 Revised Edition
3. Minister may require payment into Consolidated Fund
Official textFrom Attorney General's Chambers, unchanged
Notwithstanding the provisions of any written law specified in the
Schedule, the Minister may, by notice in writing, require any specified statutory corporation to pay into the Consolidated Fund within the period specified in the notice —
the whole or part of the excess of the revenue over the expenditure of that statutory corporation in any financial year; and
revenue
“revenue” includes all moneys received by or accruing to a specified statutory corporation other than moneys subject to a trust;
Statutory Corporations
(Contributions to Consolidated Fund)
Consolidated Fund
“Consolidated Fund” means the Consolidated Fund established under Article 58 of the Constitution;
the whole or part of the amount in the funds of that statutory corporation which, in the opinion of the Minister, is not required for performing its functions and duties.
funds
“funds” includes all general and special funds and reserves under the control or management of a specified statutory corporation, other than funds created for the accounting of moneys which are subject to a trust;
Terms defined in s 2
Consolidated Fund
Defined · s 2“Consolidated Fund” means the Consolidated Fund established under Article 58 of the Constitution;
expenditure
Defined · s 2“expenditure” means all expenses properly incurred by a specified statutory corporation in performing its functions and duties;
funds
Defined · s 2“funds” includes all general and special funds and reserves under the control or management of a specified statutory corporation, other than funds created for the accounting of moneys which are subject to a trust;
revenue
Defined · s 2“revenue” includes all moneys received by or accruing to a specified statutory corporation other than moneys subject to a trust;
specified statutory corporation
Defined · s 2“specified statutory corporation” means any of the organisations, authorities or corporations specified in the Schedule.