PART V
FINANCIAL PROVISIONS
Levy in respect of the export of goods
11.—(1)  The Board may with the approval of the Minister make an order published in the Gazette for the imposition of a levy on the export of such goods as may be specified in the order.
(2)  Any order made under subsection (1) may provide —
(a)for different rates of levy in respect of the export of different goods;
(b)for the recovery of the levy by the Board in such manner and through such channels as may be specified in the order; and
(c)for the exemption of any person or class of persons from the payment of the levy.
(3)  The levy collected under this section shall be paid to the Board.
Estimates
12.—(1)  The Board shall in every year prepare and adopt annual estimates of income and expenditure of the Board for the ensuing financial year.
(2)  Supplementary estimates of expenditure may be adopted by the Board.
(3)  A copy of all annual and supplementary estimates shall, upon their adoption by the Board, be sent forthwith to the Minister who may approve or disallow any item or portion of any item shown in the estimates, and shall return the estimates as amended by him to the Board, and the Board shall be bound thereby.
Grants
13.—(1)  For the purpose of enabling the Board to carry out its functions under this Act, the Minister may from time to time make grants-in-aid to the Board of such sums of money as the Minister may determine out of moneys to be provided by Parliament.
(2)  Without prejudice to the generality of subsection (1) —
(a)all costs of works involving capital expenditure including the costs of building and equipment; and
(b)such other costs and expenditure as the Minister considers necessary to improve the services rendered by the Board,
shall be defrayed out of moneys provided by Parliament.
Loans
14.  The Board may from time to time for the purposes of this Act raise loans from the Government or, with the consent of the Minister, from any other source.
Bank accounts and application of moneys
15.—(1)  The Board shall open and maintain an account or accounts with such bank or banks as the Board thinks fit; and every such account shall be operated as far as practicable upon by cheque signed by such person or persons as may from time to time be authorised in that behalf by the Board.
(2)  The moneys of the Board shall be applied only in payment or discharge of the expenses, obligations and liabilities of the Board and in making any payments that the Board is authorised or required to make.
(3)  Moneys belonging to the Board may from time to time be invested in securities in which trust funds may, by any written law for the time being in force relating to trustees, be invested.
(4)  There shall from time to time be paid into the Board’s accounts —
(a)all charges and fees collected by the Board under this Act, and the Regulation of Imports and Exports Act 1995;
[24/1995 wef 01/12/1995]
(b)all moneys derived from the operations of the Board; and
(c)all grants, donations, loans and interest from investments and other moneys received by the Board.
Financial provisions
16.  The financial provisions set out in the Second Schedule shall have effect with respect to the Board.
Annual report
17.—(1)  The Board shall, as soon as practicable after the end of each financial year, cause to be prepared and transmitted to the Minister a report dealing generally with the activities of the Board during the preceding financial year and containing such information relating to the proceedings and policy of the Board as the Minister may from time to time direct.
(2)  The Minister shall as soon as practicable cause a copy of every such report to be presented to Parliament.