NATIONAL HEALTH INSURANCE AUTHORITY ACT, 2022
Section 42: Establishment of the Fund of the Authority.
(1) The Authority shall establish and maintain a fund (in this Act referred to as "the Fund") from which all its expenses shall be defrayed.
(2) The Fund established under subsection (1) shall consist of -
(a) annual subvention from the Federal Government;
(b) such money as may be due to the Authority as administrative charges from private health insurance plans;
(c) fees, fines and commissions charged by the Authority;
(d) income from any investments of the Authority;
(e) such money as may be received from international or donor organisations and non-governmental organisations; and
(f) all other money which may accrue to the Authority.
(3) The Authority shall apply the Funds at its disposal-
(a) to the cost of administration of the Authority;
(b) to the payment of allowances and benefits of members of the Council;
(c) to the payment of salaries, allowances and benefits of officers and employees of the Authority;
(d) for the maintenance of any property vested in the Authority or under its administration; and
(e) for and in connection with the objectives of the Authority under this Act.
(4) The Authority shall invest any money not immediately required by it in the Federal Government securities or in such other securities and deposit as the Council may determine.
Cite this section
Section 42, NATIONAL HEALTH INSURANCE AUTHORITY ACT, 2022 (2022).
https://repo.podus.ai/laws/national-health-insurance-authority-act-2022/section/42/