Section 20: Commission Fund

20. Commission Fund.__ (l) There shall be established a fund to be known as the “CCP Fund” which shall vest in the Commission and shall be utilized by the Commission to meet charges in connection with the functioning of the Commission including payment of salaries and other remuneration to the Chairman, Members, officers, officials, experts, advisers, and consultants of the Commission. (2) The Fund shall consist of, (a) allocations or grants by the Federal Government; (b) charges and fees levied by the Commission; (c) contributions from local and foreign donors or agencies with the approval of the Federal Government; (d) returns on investments and income from assets of the Commission; and (e) all other sums which may in any manner become payable to or vested in the Commission; (f) a percentage of the fees and charges levied by other regulat ory agencies in Pakistan as prescribed by the Federal Government in consultation with the Commission and the percentage so prescribed shall not be varied to the disadvantage of the Commission. (3) The Commission shall make regulations for incurring expenditures as well as investments from the Fund. (4) The Commission may open and maintain accounts at such scheduled banks as it may from time to time determine. The Commission may with the approval of the Federal Government, open and maintain foreign currency accounts.

Effective date: 2010-01-01

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