Revised Laws of Saint Lucia (2021)

22.   Application of revenue of FZMA

The revenue of the FZMA in any financial year shall be applied in payment of the following charges—

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    (a)     the interest and other charges on, and provisions for repayment of any loan payable by the FZMA;

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    (b)     the sums required to be paid towards the repayment of any loan made to the FZMA;

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    (c)     the remuneration, fees and allowances payable under this Act;

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    (d)     the salaries, remuneration, allowances, pensions, gratuities, provident fund and other superannuation benefits of the officers and staff, employed in or in connection with the activities carried on by the FZMA;

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    (e)     the working and establishment expenses of, and the expenditure on, or provision for the maintenance of the property and installations of the FZMA;

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    (f)     the discharge of the functions of the FZMA properly chargeable to revenue account;

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    (g)     such sums as the FZMA may deem appropriate to set aside in respect of obsolescence and depreciation or renewal of the property or installations of the FZMA;

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    (h)     the cost, or any portion thereof, of any new works, plant, or appliances not being a renewal of property of the FZMA, which the FZMA may determine to charge to revenue;

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    (i)     any other expenditure authorised by the Board and properly chargeable to revenue.