Co-operatives Act, 2005 (Act No. 14 of 2005)

Chapter 12A : Co-operatives Development Agency

Part 2 : Funding and financial management of Agency

91G. Funding of Agency

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(1)The Co-operative Development Fund is hereby established and is the repository fund for the Agency.

 

(2)The administration of the Co-operative Development Fund vests with the Agency.

 

(3)The administration and financial management of the Co-operative Development Fund must comply with that of a national public entity listed in Schedule 3, Part A, to the Public Finance Management Act.

 

(4)The head of the Agency is the accounting authority for the Co-operative Development Fund, as contemplated in Chapter 6 of the Public Finance Management Act.

 

(5)The Agency is funded by—
(a)monies appropriated for that purpose by Parliament;
(b)interest on investments by the Agency;
(c)donations and contributions lawfully received by the Agency; and
(d)all other monies which may accrue to the Agency from any other legal source.

 

[Section 91G inserted by section 66 of Notice No. 558, GG 36729, dated 5 August 2013]