Revised Laws of Saint Lucia (2021)

18.   Funds of the Corporation

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   (1)   The funds and resources of the Corporation shall consist of—

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      (a)     such sums as may be placed at its disposal by the House of Assembly;

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      (b)     funds arising from the sale, lease or other disposition of any property vested in the Corporation;

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      (c)     funds arising from any source consequential upon the execution of its functions under this Act;

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      (d)     sums borrowed by the Corporation for the purpose of meeting any of its obligations or discharging any of its functions;

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      (e)     any other sums or property that may become payable to or vested in the Corporation in respect of any matter pertaining or incidental to its powers and duties.

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   (2)   All moneys of the Corporation shall be paid into a bank or banks approved by the Minister except such sums as the Corporation may authorise any officer to retain in order to meet petty disbursements.

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   (3)   All payments out of the funds of the Corporation except petty disbursements not exceeding such sums as may be fixed by the Corporation, shall be made by an officer authorised by the Corporation in that behalf.

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   (4)   Cheques, withdrawals, bills of exchange or orders for the payment of any monies against any banking account of the Corporation shall be signed by the officer so authorised by the Corporation and countersigned by the chairperson or any member of the Corporation or any officer of the Corporation appointed by resolution of the Corporation for the purpose; and a copy of any such resolution shall be certified by the chairperson and forwarded to the bank or banks concerned.