National Defence Fund Act

Arrangement of Sections

1. Short title.

2. Establishment of the National Defence Fund.

3. Board of Governors of the Fund.

4. Board to regulate its procedure with regard to meetings.

5. Proceedings of the Board not to be invalidated due to any vacancy.

6. President to be Chairman.

7. Power of the Fund.

8. National Defense Fund Account.

9. Purpose for which the moneys of the Fund may be applied.

10. Investment of moneys of the Fund.

11. Officers and servants of the Fund and delegation of powers, duties and functions of the Board.

12. Audit and Account.

13. Auditor-General's statement and report to be placed before Parliament.

14. Powers of Board to make rules.

14A. Application of Inland Revenue Act, No. 28 of 1979 to the Fund.

15. Officers and servants of the Fund deemed to be public servants within the meaning of the Penal Code.

16. The Board deemed to be a scheduled institution within the meaning of the Bribery Act.

17. Interpretation.

9 of 1985,

10 of 1991.

AN ACT to provide for the establishment of a fund called "the National Defence Fund” for the provision of funds for national defence; and to provide for matters connected therewith or incidental thereto.

[Date of Commencement: 21st March, 1985]

1. Short title.

This Act may be cited as the National Defence Fund Act.

2. Establishment of the National Defence Fund.

(1) There shall be established a Fund to be called "the National Defence Fund” (hereinafter referred to as "the Fund”).

(2) The Fund shall, by the name assigned to it by subsection (1), be a body corporate, and shall have perpetual succession and a common seal and may sue and be sued in such name.

3. Board of Governors of the Fund.

(1) The administration, management and control of the Fund shall be vested in a Board of Governors constituted as hereinafter provided.

(2) The Board of Governors of the Fund (hereinafter referred to as "the Board”) shall consist of—

(a) the President of the Republic,

(b) the Minister in charge of the subject of Finance, and

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