Statutory Corporations (Contributions to Consolidated Fund) Act

(Original Enactment: Act 22 of 1989)

(15th December 1998)
An Act to provide for the payment into the Consolidated Fund of moneys from the funds of certain statutory corporations.
[21st April 1989]
Short title
1.  This Act may be cited as the Statutory Corporations (Contributions to Consolidated Fund) Act.
2.  In this Act, unless the context otherwise requires —
“Consolidated Fund” means the Consolidated Fund established under Article 145 of the Constitution;
“expenditure” means all expenses properly incurred by a specified statutory corporation in performing its functions and duties;
“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;
“Minister” means the Minister for Finance;
“revenue” includes all moneys received by or accruing to a specified statutory corporation other than moneys subject to a trust;
“specified statutory corporation” means any of the organisations, authorities or corporations specified in the Schedule.
Minister may require payment into Consolidated Fund
3.—(1)  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 —
(a)the whole or part of the excess of the revenue over the expenditure of that statutory corporation in any financial year; and
(b)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.
(2)  Any notice issued by or under the direction of the Minister before 21st April 1989 to any specified statutory corporation requiring it to make any payment into the Consolidated Fund shall be deemed to be a notice issued under the provisions of this Act.
Amendment of Schedule
4.  The Minister may, by order published in the Gazette, amend the Schedule.