Section 19Part 4 — Financial Provisions
Payment of dividends by Authority
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The Governor may, by written notice to the Board direct the Authority to —
pay a dividend to Government for an amount, and at a time, specified in the notice; and
provide, at a time and in a manner specified in the notice, such information as is specified in the notice,
and the Authority shall comply with the directions.
The dividend referred to in subsection (1) shall be calculated by a formula determined by the Financial Secretary after consulting the Governor and the Authority; and such method of calculation shall be so determined before a request for a dividend from the Authority is made by the Governor.
Receipts issued under section 14(1)(c) shall not be taken into account in calculating the amount of any dividend payable under this section.
Cross References
- Section 14 of Maritime Authority Act
section 14(1)(c)