Section 167, The National Communications Authority Act, 2022

The Fund Administrator shall, for the purpose of identiyingthe projects to be funded by the Fund, give priority to- (a) efficient, self-sustaining projects, that will expand access to communication systems and services on their own initiative and with minimal funding; (b) projects that are not economically feasible without support of the Fund; and Indentification of projects to Fund. PART XXXIII- OBLIGATION OF UNIVERSAL SERVICE LICENSEE 173. A licensee duly selected and benefiting from the Universal Access Development Fund shall keep books and accounts, and maintain proper records of its operations in accordance with accepted accounting standards. 174. (1) A duly selected licensee shall provide, on an annual basis within six (6) months after the end of the government financial year, a report on the accounts and targets reached as stated in the terms and conditions of the licence, and shall provide in particular: (a) a copy of the report to the Universal Access Development Fund on the performance audit carried out during the year up to the provision of the report; and (b) information on the implementation of the universal services. (2) At the request of the Universal Access Development Fund, accounts shall be audited annually by an entity registered as an independent auditor. 175. A failure by the selected licensee to comply with its obligations in terms of universal service implementation shall be an offence and the selected licensee shall be liable to a fine not less than the subsidy received from the Fund. PART XXXIV-ENFORCEMENT AND OFFENCES 176. (1) The Authority shall monitor and enforce the licensee’s compliance with this Act, statutory instruments made under this Act and the terms and conditions of the licence. Accounting obligation. Reporting. Failure to comply with obligations. Monitoring enforcement No. 16 The National Communications Authority Act 2022No. 16 The National Communications Authority Act 2022 (c) projects necessary to create adequate economic incentives for investors.