Law library · Sierra Leone · The National Commission for Privatisation Act, 2002
Section 23, The National Commission for Privatisation Act, 2002
Status not yet checkedThe National Commission for Privatisation Act, 2002, Sierra Leone
(1) All the revenue or proceeds paid or due and payable to the Commission for a divested public enterprise under this Act, shall be paid into the Consolidated Fund.
(2) In case retrenchments or repayment of debts or obligations of the public enterprise is a condition precedent for the divestiture, the estimated resources needed to effect such payments shall be segregated and kept in a specific trust account set up for such purpose and authorised by a specific decision of the Commission and detailed in the minutes, and any such account shall be opened for a stated, limited period of time and the account, after auditing, shall be closed and the balance transferred to the Consolidated Fund.
[Margin: Periodic reports.]
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