PUBLIC ENTERPRISES REGULATORY COMMISSION ACT

Section 14: Fund of the Commission

1996Section 14 of 79Federal Republic of Nigeria

(1) There shall be established and maintained by the Commission a fund into which shall be paid and credited-
(a) the annual subvention received from the Federal Government;
(b) such money as may, from time to time, be lent, deposited with or granted to the Commission by the Federal Government;
(c) all fees and charges for services rendered by the Commission; and
(d) all other sums which may, from time to time, accrue to the Commission.
(2) The Commission may, from time to time, as the Board may direct, apply the funds at its disposal-
(a) to the cost of the administration of the Commission and for the purposes of any activity being undertaken by the Commission;
(b) to the payment of remunerations, allowances, benefits and expenses of members of the Board or of any committee set up by the Board;
(c) to the payment of the salaries, allowances and benefits of officers and servants of the Commission;
(d) for the maintenance of any property vested in the Commission or under its administration; and
(e) for and in connection with all or any of the functions of the Commission under this Act or any other enactment.

Cite this section

Section 14, PUBLIC ENTERPRISES REGULATORY COMMISSION ACT (1996).

https://repo.podus.ai/laws/public-enterprises-regulatory-commission-act/section/14/