Section 10: Funds and financial accounts of the registration authority

(1) There shall be established for the Authority, a fund which shall be managed or the purposes of this Act.
(2) There shall be paid into the Fun—
(a) all fees and other moneys payable to the Authority, in pursuance of this Act; and
(b) all such moneys as may be payable to the Authority; whether in the course of the discharge of its functions or not;
(3) -
(a) There shall also be paid out of the Fund of the Authority the remuneration and allowances of the registrar and employees of the Authority;
(b) Such reasonable travelling and subsistence allowances of members of the Authority in respect of time spent on the business of the Authority as the Authority may, with the approval of the Minister, determine; and
(c) Any other expenses incurred by the Authority in the discharge of its functions under this Act.
(4) -
(a) The Authority shall prepare and submit to the Minister not later than 31st day of December of each year an estimate of the income and expenditure of the authority during the next succeeding year.
(b) The Authority shall keep proper accounts in respect of each year and proper records in relation to those accounts and shall cause the accounts to be audited within six months after the end of the year to which the account relates.