PART IV - FINANCIAL PROVISIONS

14. Funds of the Commission.-

(1)

There is hereby established, for the purposes of this Ordinance, a Commission Account to be administered and controlled by the Commission. The operations of the Commission shall be funded from the Commission Account. The funds of the Commission shall consist of-

(a)

grants from the Federal Government;

(b)

supplementary contributions from the Privatisation Fund;

(c)

income from investments; 

(d)

fees and charges;

(e)

grants of money and sums borrowed or raised by the Commission for the purposes of meeting any of its obligations or discharging any of its duties; and

(f)

all other sums or property which may in any manner become payable to or vested in the Commission in respect of any matter incidental to the exercise of its functions and powers.

(2)

The Commission shall in respect of each financial year prepare its budget and submit it to the Federal Government for approval, in the form and manner as may be prescribed. 

(3)

It shall be the duty of the Commission to conserve the Commission Account and the Privatisation Fund while performing its functions and exercising its powers under this Ordinance.