36. Purposes to which profits may be applied
The net profit made by the Board during a financial year, after setting off such part of that profit as may be necessary to meet any deficit carried forward from the preceding financial year, shall as soon as may be practicable after the end of the said financial year, be applied by the Board—
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(a) first, to the repayment of advances received by the Board from the Government and of other sums borrowed by the Board from other sources which have become due;
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(b) secondly, to the reserve fund of an amount equivalent to not less than 20% of the net profit remaining after provision has been made for the repayment specified in paragraph (a);
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(c) thirdly, to carrying forward such amount as the Board may deem necessary for the proper working of the Board during the succeeding financial year;
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(d) to bonus or incentive payments to local producers on the basis of the value of the supplies traded with the Board or such other basis as the Board may consider appropriate;
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(e) to performance incentive payments to staff where such payments appear beneficial to the efficiency of the operations of the Board; and
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(f) finally, to such purposes for the benefit of agriculture in Saint Lucia as the Board may determine.
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(Amended by Act 12 of 1978)