479. Fund

For the purposes of this Act, there shall be established a Fund which shall be maintained in such manner as the Secretary to the Ministry of the Minister, in consultation with the Registrar may direct.

There shall be paid into the Fund two-thirds of every fee or charge prescribed, levied or recovered under this Act by the Registrar.

One-third of every fee or charge prescribed, levied or recovered under this Act by the Registrar, shall be paid into the Consolidated Fund.

There shall be paid out of the Fund, all sums of money required to defray any expenditure incurred by the Registrar-General in the exercise, discharge and performance of his powers, functions and duties under this Act, and all sums of money as are required to be paid out of the Fund by or under this Act or any regulation made thereunder.

The Secretary to the Ministry of the Minister shall as soon as possible after the end of each financial year, prepare a report on the administration of the Fund and shall cause to be maintained a full and appropriate account of the Fund in respect of each financial year.

The Auditor-General shall audit the accounts of the