Section 39, The National Investment Board Act, 2022

(1) The Board shall in accordance with the Public Financial Management Act 2016 prepare and submit to the Financial Secretary for his approval estimates of income and expenditure of the Board and the operating plan for the next financial year. 24 25 Settlement of disputes Funds of the Board . Annual Budget (2) The Secretariat shall not incur any expenditure exceeding its budget without the written approval of the Board.