Castle Management Act, 1993 (Act No. 207 of 1993)

18. Funds of Board and keeping of accounts
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(1) The funds of the Board shall consist of—
(a) any moneys paid to the Board out of moneys which may from time to time be appropriated by Parliament to assist the Board;
(b) money or revenue received by it in pursuance of any provision of this Act;
(c) money borrowed by the Board in accordance with section 14(1)(q); and
(d) such other money as may from time to time accrue, become payable or be donated to the Board.

 

(2) The Board shall allocate so much of its surplus funds as the Minister of State Expenditure may annually determine, to the maintenance and upkeep of the Castle.

 

(3) The Board shall utilize its funds to defray expenses in connection with the exercise of its powers and the performance of its functions and duties in accordance with the statement of its estimated income and expenditure as approved by the Minister in terms of subsection (5).

 

(4) The Board shall, subject to the provisions of this Act, utilize donations and contributions for the purpose, and subject to the conditions, determined by the donor or contributor.

 

(5) The Board shall in each financial year, on a date determined by the Minister within 60 days after the commencement of that financial year, submit a statement of its estimated income and expenditure for the following financial year to the Minister for his or her approval.

 

(6) The Board may invest any unexpended portion of its funds with the Corporation for Public Deposits established by section 2 of the Corporation for Public Deposits Act, 1984 (Act No. 46 of 1984), or, subject to the approval of the Minister acting in concurrence with the Minister of State Expenditure, in any other manner.

 

(7) The Board may utilize any interest earned on an investment contemplated in subsection (6) to defray expenses in connection with the exercise of its powers or the performance of its functions and duties.