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Revised Laws of Saint Lucia (2022)

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15. Rules of the Fund

(1) The Board may make rules for the Fund, not inconsistent with this Act, for all or any of the following purposes—
1. (a) regulating the proceedings of the Board;
1. (b) providing for the custody of the property of the Fund, and the custody and use of the common seal of the Fund;
1. (c) regulating the terms and conditions of employment of persons appointed under section 7;
1. (d) the preparation of semi-annual or quarterly audits of the Fund; and
1. (e) providing for such other matters as may be necessary or expedient for the better carrying out of the functions of the Fund.

(2) Notice in writing of every proposed resolution to make rules under this section or for the amendment or revocation of any rule so made, (including a copy of the proposed rules, amendment, or revocation) shall be given to every Director not less than 21 days before the meeting at which the proposal is to be moved, but an inadvertent failure to comply with this subsection shall not invalidate the making, amendment, or revocation of any rule at that meeting.

15. Rules of the Fund

4. Body Corporate

5. Objectives of the Fund

6. Functions of the Fund

7. Appointment of staff

8. Duties of the Executive Director

9. Board of Directors

10. Composition of the Board

11. Meetings of the Board

12. Disqualifications to be a Director

13. Delegation of powers

14. Protection of Fund

17. Expenses of the Fund

18. Borrowing Powers

19. Submission of Budget Estimates

20. Accounts and Audit

21. Annual Report

22. Validity of the Board's acts

23. Exemption from income tax, property tax and stamp duty

24. Regulations

2. Interpretation

3. Establishment of Fund

16. Revenues of the Fund