PRESIDENT'S FUND ACT

Arrangement of Sections

1. Short title.

2. Establishment of the President's Fund.

3. Board of Governors of the Fund.

4. Powers of the Fund.

5. The President's Fund Account.

6. Purposes for which the moneys of the Fund may be applied.

7. Investment of moneys of the Fund.

8. Officers and servants of the Fund.

9. Audit and accounts.

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

11. Power of Board to make rules.

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

13. Interpretation.

7 of 1978.

AN ACT to provide for the establishment of a fund called "the President's Fund” for the provision of funds for the relief of poverty, for the advancement of education or knowledge, for the advancement of religion, for the making of awards to persons who have served the nation, and for any other purposes beneficial or of interest to the public; and to provide for matters connected therewith or incidental thereto.

[Date of Commencement: 24th November, 1978]

1. Short title.

This Act may be cited as the President's Fund Act.

2. Establishment of the President's Fund.

(1) There shall be established a Fund to be called "the President's 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;

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