Section 28, The Sierra Leone Water Company Act, 2001

(1) The revenue of the Company for any financial year shall be applied in defraying the following charges– (a) the remuneration, fees and allowances of the members of the Board; (b) the salaries, remuneration, fees, allowances, pensions, gratuities and other benefits of the employees and technical or other advisers of the Board; No. 6 *The Sierra Leone Water Company Act* 2001 15 (c) operating expenses and expenditure on management of the Company, its waterworks and other property, including provision for depreciation of assets; (d) repayment of the principal sums borrowed and sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provision for the redemption of stock or other securities or the repayment of other borrowed monies; (e) interest on any loan raised by the Company; (f) such sums as may be payable by the Company to any person or authority under the provisions of this Act or any other law; (g) rates, taxes and other levies, payable by the Company under any law; and (h) any other expenditure authorized by the Company and property chargeable to revenue account. (2) The balance of the revenue of the Company for any financial year may be applied to the creation of general or specific reserve funds to be used for maintaining and improving the financial position of the Company and for financing further developments. [Margin: Investment of funds.]