19Funds

19 Funds

(1)  The funds of the Regulator consist of –

(a) [Section 19 Subsection (1) amended by No. 13 of 2015, s. 13, Applied:01 Jul 2015] [Section 19 Subsection (1) amended by No. 13 of 2015, s. 13, Applied:01 Jul 2015] all money received by the Regulator in the course of performing his or her functions and exercising his or her powers; and

(b) money appropriated by Parliament for the purposes of the Regulator; and

(c) [Section 19 Subsection (1) amended by No. 13 of 2015, s. 13, Applied:01 Jul 2015] all other money received by the Regulator from any other source.

(2)  [Section 19 Subsection (2) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] The funds of the Regulator are to be paid into an account in the Public Account.

(3)  [Section 19 Subsection (3) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] Money standing to the credit of the account in the Public Account may be applied –

(a) [Section 19 Subsection (3) amended by No. 13 of 2015, s. 13, Applied:01 Jul 2015] in the payment or discharge of the expenses, charges and obligations incurred or undertaken by the Regulator in the performance and the exercise of his or her functions and his or her powers; and

(b) [Section 19 Subsection (3) amended by No. 13 of 2015, s. 13, Applied:01 Jul 2015] in the payment of the remuneration and allowances of the Regulator, the Acting Regulator or an Assistant Regulator; and

(c) in meeting the expenses incurred by the Regulator in respect of –

(i) the use of the services of persons referred to in section 17(1) and ; and