s.14Funds available to Authority
14
Section 14Part 4 — Financial Provisions

Funds available to Authority

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The funds available to the Authority for the performance of its functions under this Law shall consist of —
such sums as may be paid by the Governor in Cabinet for outputs purchased by him from the Authority or equity injections or loans to the Authority made by the Governor in Cabinet;
such sources of non-coercive revenue as may be available in respect of shipping and maritime services;
amounts borrowed by the Authority in accordance with this Law;
miscellaneous receipts including interest and returns on investments;
amounts charged in respect of fees paid for consulting and other services; and
other costs recoverable from the Government relating to casualty and other inquiries and investigations, port state control activities and judicial and administrative proceedings as agreed with the Governor in Cabinet through a purchase agreement with the Authority.
The revenue received shall be paid into bank accounts established for the purpose in the name of the Authority and approved by the Board.
Subject to this Law, revenue of the Authority, equity invested in the Authority and loans made to the Authority shall be held and applied to furthering the purposes of the Authority in such manner as the Authority may think fit.
Where this Part is inconsistent with the Merchant Shipping Law (2011 Revision), this Part shall prevail.

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