Revised Laws of Saint Lucia (2021)

13.   Application of funds of the Board

The funds of the Board shall be applied towards—

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   (a)     the remuneration of its members, officers and servants;

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   (b)     the payment of the cost of acquisition of any property, moveable or immoveable, for the purposes of this Act. However, land or building shall not be purchased or leased by the Board without the prior approval of the Governor General;

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   (c)     the purchase, construction, maintenance and replacement for the purposes of this Act of any machines or equipment;

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   (d)     the payment of the rent of premises used by the Board in the carrying on of its business;

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   (e)     the payment of all rates, taxes and insurance on any land, building or other property acquired by the Board;

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   (f)     the payment of all expenses duly incurred for the purposes of this Act;

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   (g)     the purchase of livestock and the processing and marketing of meat or meat products;

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   (h)     the repayment of advances, sums borrowed by the Board, and interest thereon;

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   (i)     the creation of a reserve fund, as the Board may, in its discretion, consider fit;

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   (j)     any other purpose which the Board may, with the approval of the Governor General, decide to be for the purposes of this Act.

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   (2)   Money standing to the credit of a reserve fund may be invested in securities generally or specifically approved by the Governor General for that purpose and the Board may and with like approval sell or vary any or all such securities.