5
Investment of moneys.
Accounts.
Costs of administering the fund.
9. (1) The trustee may invest any moneys of the fund in such investments, whether or not such investments are trust invest- ments, as the committee may advise, subject, in the case of in- vestments which are not trust investments, to the prior approval of the Investment Advisory Board and may remit moneys com- prised in the fund through the Accountant General to the Crown Agents for investment in the name of the trustee.
(2) The Governor shall, for the purposes of subsection (1), appoint an Investment Advisory Board, which shall consist of not less than three nor more than five persons.
10. (1) The trustee shall cause proper accounts to be kept of all transactions of the fund and shall cause to be prepared, in respect of the period from the vesting day to the 31st day of March 1968, and thereafter in respect of every period of one year ending on the 31st day of March, a statement of the accounts of the fund, which statement shall include an incourse and expenditure account and balance sheet and shall be signed by the trustee.
(2) The accounts of the fund and the signed statement of the accounts shall be audited by an auditor appointed by the Governor and the auditor shall certify the statement subject to such report, if any, as he may think fit,
(3) A copy of the signed and audited statement of accounts together with the auditor's report, if any, and a report by the trustee on the administration of the fund during the period covered by the audited accounts shall be laid on the table of the Legislative Council not later than the 30th day of September next following the end of such period, or so soon thereafter as the Governor may allow.
11. (1) The cost of the administration of the fund, other than the salaries and fees paid under subsection (2) of section 8, shall be a charge upon the general revenue of the Colony:
Provided that the Financial Secretary may direct that an annual supervision fee to be determined by him shall be charged against the income of the fund and paid into the general revenue of the Colony.
(2) The fee charged under the proviso to subsection (1) shall-
(a) be in respect of the period from the vesting day to the 31st day of March 1968, and thereafter in respect of every period of one year ending on the 31st day of March; and (b) not exceed two and a half per cent of the income of the
fund over the relevant period.
12. Nothing in this Ordinance shall affect or be deemed to affect the rights of Her Majesty the Queen, Her Heirs or Succes- sors, or the rights of any body politic or corporate or of any other persone except such as are mentioned in this Ordinance and those claiming by, from or under them.
This printed impression has been carefully compared by me with the Bill which passed the Legislative Council on the 29th day of November, 1967, and is found by me to be a true and correctly printed copy of the said Bill.
(Secretarial CR 14/2041/67)
Deputy Clerk of Councils.
Saving