INVESTMENTS AND SECURITIES ACT

Section 21: Reserve account.

2007Section 21 of 316Federal Republic of Nigeria

(1) The Commission shall establish a reserve account into which all surpluses from the Fund shall be paid.
(2) Disbursement from the reserve account shall be approved by the Board of the Commission.
(3) The Commission may invest funds in the reserve account in securities prescribed by the Trustee Investments Act and such other modifying or substituting legislation or in such other securities as may be approved by the Board of the Commission.

Cite this section

Section 21, INVESTMENTS AND SECURITIES ACT (2007).

https://repo.podus.ai/laws/investments-and-securities-act/section/21/