Cap 342C s 4 Investment of surplus funds (CUSTOMS AND EXCISE SERVICE (WELFARE FUND) REGULATION; CUSTOMS AND EXCISE SERVICE ORDINANCE)

Contents of Section

Chapter:	342C	Title:	CUSTOMS AND EXCISE SERVICE (WELFARE FUND) REGULATION	Gazette Number:	L.N. 250 of 1999; L.N. 289 of 1999
Section:	4	Heading:	Investment of surplus funds	Version Date:	19/11/1999

(1) The corporation may from time to time estimate the requirement of the Fund in terms of the amount (if any) by which the money payable from the Fund exceeds the money payable to the Fund during the 3 months' period beginning from the day on which the estimate is made.
(2) The corporation may-

(a) invest in securities or place on deposit any money held in the deposit account that is surplus to the current requirement of the Fund from time to time; and

(b) for that purpose, request the Director to pay the surplus money to the corporation.

(3) The corporation must-

(a) comply with any direction that the Financial Secretary may give in relation to the investments or deposits made under subsection (2); and

(b) ensure that all dividends and interest accruing from the investments and deposits made under this Regulation are credited to the Fund.