Schedule., The Sierra Leone Development Fund Ordinance

CHAPTER 258. SIERRA LEONE DEVELOPMENT FUND. An Ordinance to Provide for the Establishment and Maintenance of a Fund to be known as the Sierra Leone Development Fund: for the Application of the Moneys therein and for Matters Ancillary thereto. [29TH JANUARY, 1952.] 1. (I) This Ordinance may be cited as the Sierra Leone Development Fund Ordinance, and shall apply to the Colony and Protectorate. (2) This Ordinance shall be deemed to have come into operation on the 29th day of January, 1952. 2. There shall be established a fund to be called the Sierra Leone Development Fund (hereinafter called" the Fund") into which the Accountant General shall pay such moneys as hereinafter provided. 3. The Accountant General shall from time to time pay into the Fund- (a) such amounts or the proceeds of such imposts as the House of Representatives may, by resolution, from time to time direct; Sierra Leone Development Fund [Cap. 258 (b) such amounts as may be granted to the Fund by the Sierra Leone Produce Marketing Board under the provisions of section 2I of the Sierra Leone Produce Marketing Ordinance. Cap. 229. 4. (I) The Fund shall be kept in the Public Treasury and Investment any portion thereof not required to be immediately expended of fund. under the provisions of this Ordinance shall, as far as practicable, be invested on behalf of the Fund, under the direction of the Minister of Finance in such securities or be employed at interest in such manner as shall be approved from time to time by the Governor in Council, or, in the case of moneys remitted to London for investment, by the Secretary of State, and any such investment may at any time be changed into other like securities. (2) All interest accruing from investments made under this section shall be paid into the Fund. · 5. (I) The expenditure of moneys from the Fund shall be limited to the objects set forth in the Schedule to this Ordinance, as from time to time amended by Order made under section 8. (2) The Minister of Finance shall from time to time submit proposals for expenditure of moneys from the Fund for approval by resolution of the House of Representatives, and save as provided in section 6, no moneys other than those approved by such resolution shall be expended. 6. (I) If at any time the Governor in Council is satisfied that it is essential in the public interest that expenditure be immediately incurred on any object set forth in the Schedule to this Ordinance and that time does not permit of the prior approval of the House of Representatives being obtained, the Governor in Council may authorise such expenditure. (2) Any authority to incur expenditure given by the Governor in Council under this section shall have effect until the next sitting of the House of Representatives thereafter; and unless such authority is confirmed by resolution of the House of Representatives, no further expenditure thereunder shall be made. Expenditure from the fund. Urgent expenditure. 7. Annual accounts of receipts and payments out of the Annual Fund during the year ended on the thirty-first day of December, account. shall be included in the Annual Financial Report which is laid each year on the Table of the House of Representatives by the Minister of Finance. Amendments io Schedule. s. 5. P.N. 83 of 1955. Cap. 258] Sierra Leone Development Fund 8. The Governor in Council may by Order approved by resolution of the House of Representatives amend the Schedule to this Ordinance.