NATIONAL OFFICE FOR TECHNOLOGY ACQUISITION AND PROMOTION ACT

Section 12: Financial Provisions.

1979Section 12 of 23Federal Republic of Nigeria

(1) The National Office shall establish and maintain a fund the proceeds of which shall be applied-
(a) to the cost of administration of the National Office and the Council;
(b) for reimbursing members of the Council or of any committees set up by the Council for such expenses as may be authorised by the Council and in accordance with the rates approved in that behalf by the President;
(c) to the payment of salaries, allowances or other emoluments and pensions, gratuities and other terminal benefits of the employees of the National Office;
(d) for the maintenance of any property vested in or acquired by the National Office; and
(e) for or in connection with all or any of the functions of the National Office or the Council under or pursuant to this Act.
(2) There shall be paid and credited to the fund established pursuant to subsection (1) of this section-
(a) such sums as may be provided in each financial year by the Government of the Federation for payment into the fund;
(b)
fees charged for registration of contracts and agreements and for other services rendered by the National Office;
(c) all other sums accruing to the National Office under or pursuant to this Act.

Cite this section

Section 12, NATIONAL OFFICE FOR TECHNOLOGY ACQUISITION AND PROMOTION ACT (1979).

https://repo.podus.ai/laws/national-office-for-technology-acquisition-and-promotion-act/section/12/