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PART VI
FINANCIAL PROVISIONS
Establishment of 27. (1) There is hereby established a Pneumoconiosis Compensation Pneumoconiosis Fund which shall consist of—
Compensation Fund.
Payments by
the Board from the Fund.
Estimates and financial year.
Bank account.
Investment of funds.
Accounts.
(a) any moneys recovered by way of levy and surcharge;
(b) any moneys provided by the Government for the purposes of
the Fund; and
(c) any other moneys lawfully received by the Board for its purposes.
(2) The Fund shall be vested in the Board.
28. The Board shall pay from the Fund the following-
(a) compensation under this Ordinance;
(b) damages, interest and costs payable or settled under section 13; (c) any sums payable under section 19;
(d) medical expenses;
(e) medical examination fees for medical examinations under sec-
tion 23;
(f) expenses incurred by the Board for the purposes of this Ordinance; (g) any other sums payable by the Board by virtue of or under this
Ordinance.
29. (1) In each financial year, before a date to be appointed by the Governor, the Board shall submit to the Governor a programme of its proposed activities and estimates of its income and expenditure for the next financial year:
Provided that the programme and estimates for the first financial year of the Board shall be forwarded as soon as is practicable after the com- mencement of this Ordinance.
(2) The Board may, from time to time, with the prior approval of the Governor, fix a period to be the financial year of the Board.
30. (1) The Board shall open and maintain an account with a bank approved by the Director of Accounting Services.
(2) The Board shall pay all moneys received by it into the account referred to in subsection (1).
be
31. All funds of the Board that are not immediately required may
(a) deposited on fixed term or call deposit or in a savings account in any bank nominated by the Financial Secretary either generally or in any particular case, for that purpose; or
(b)
subject to the prior approval of the Financial Secretary, invested in such investments as the Board thinks fit.
32. (1) The Board shall maintain proper accounts and records of all income and expenditure.
(2) After the end of each financial year, the Board shall cause to be prepared statements of income and expenditure during the previous financial year and of the assets and liabilities of the Board on the last day thereof.