12Funds of Board

12 Funds of Board

(1)  The Board is to keep an account with an authorised deposit-taking institution into which it is to pay money it receives.

(2)  The Board is to use any money received by it to perform its functions.

(3)  In particular, the Board is to use that money –

(a) to ensure compliance with this Act and the Code of Conduct; and

(b) to pay people who have performed any function of the Board on its behalf; and

(c) [Section 12 Subsection (3) amended by No. 7 of 2025, s. 180, Applied:01 Jul 2025] to pay the remuneration and allowances of its members and employees.

(d) [Section 12 Subsection (3) amended by No. 7 of 2025, s. 180, Applied:01 Jul 2025] .  .  .  .  .  .  .  .  

(4)  The Board may invest any money held by it that is not immediately required in any manner in which a trustee is authorised by law to invest its funds.