Section 12: Fund

12. Fund.—(1) The Corporation shall establish a Fund for the purposes of carrying out the powers and functions of the Board and the Corporation under this Act. (2) The Fund shall consist of— (a) loans or grants made to the Corporation; (b) monies, aid, grants and loans negotiated or raised or otherwise obtained by the Corporation; (c) collections, charges, fees, rentals, revenues, proceeds, or profits from the works and activities of the Corporation; (d) income from the sale of moveable or immoveable property; (e) funds from floating bonds, shares, debentures, commercial papers, or other securities issued by the Corporation or through any other means; (f) income from business activities, investments, receipts; (g) any monies, proceeds, or sums received, earned, received or collected by the Corporation; and (h) any other income, revenue, proceed or sums arising out of, or in relation to the functions of the Corporation under this Act. (3) The Fund shall be kept in one or more accounts maintained by the Corporation, in local foreign currency, and shall be operated, utilized and regulated in such manner, as may be prescribed.

Effective date: 2023-08-07

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