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(1) Subject to this Act, the Authority may invest any of its funds in securities in which trustees may, for the time being, invest trust funds or in any other securities which the National Treasury may, from time to time, approve for that purpose.(2) Subject to this Act, the Authority may upon consultation with the National Treasury, place on deposit with such bank or banks as it may determine, any moneys not immediately required for its purposes.(3) The assets of the Authority may be disposed of—(a) if they are current assets, in the normal course of business carried on by the Authority;(b) where the disposal and the utilization of the proceeds have been taken into account in an annual estimate prepared and approved in accordance with section 22;(c) by way of sale or otherwise with the approval of the Cabinet Secretary and the National Treasury where such disposal has not been taken into account in the estimates.
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(1) As soon as practicable and not later than three months after the expiry of the financial year, the Director-General shall submit to the Cabinet Secretary a financial report concerning the...
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