CHARTERED INSTITUTE OF DIRECTORS, NIGERIA (ESTABLISHMENT) ACT, 2023

Section 25: Application of Fund.

2023Section 25 of 39Federal Republic of Nigeria

(1) The Institute shall apply the Fund established under section 24 of this Act on -
(a) the general administration of the Institute;
(b) the payment of salaries, remuneration and allowances of the members of the Council, Director-General and other employees of the Institute;
(c) such expenses incurred for travelling and subsistence allowance by members of the Council and staff of the Institute as may be approved by Council; and
(d) any other expenses approved by the Council in the performance of its functions under this Act.
(2) Subject to the approval of the Council, the Institute may invest Funds in equities and such other investment portfolios that may yield reasonable income to the Institute.

Cite this section

Section 25, CHARTERED INSTITUTE OF DIRECTORS, NIGERIA (ESTABLISHMENT) ACT, 2023 (2023).

https://repo.podus.ai/laws/chartered-institute-of-directors-nigeria-establishment-act-2023/section/25/