[{"command":"aknLoadDiff","data":{"first_expression_frbr_uri":"\/akn\/sc\/act\/2015\/18\/eng@2022-10-17","second_expression_frbr_uri":"\/akn\/sc\/act\/2015\/18\/eng@2015-11-19","n_changes":485,"html_diff":"\u003Cdiv xmlns:diff=\u0022http:\/\/namespaces.shoobx.com\/diff\u0022\u003E\u003Cdiv class=\u0022coverpage\u0022\u003E\n  \n\n  \n    \u003Cdiv class=\u0022place-name\u0022\u003E\n      \n      Seychelles\n    \u003C\/div\u003E\n  \n\n  \n    \n  \n\n  \n    \u003Ch1\u003ESeychelles Conservation and Climate Adaptation Trust Act, 2015\u003C\/h1\u003E\n  \n\n  \n    \n      \n        \u003Ch2\u003EAct 18 of 2015\u003C\/h2\u003E\n      \n    \n  \n\n  \n    \u003Cul class=\u0022notice-list\u0022\u003E\n      \n  \n  \n    \u003Cli class=\u0022publication-info\u0022\u003E\n      \n        \n        \u003Ca href=\u0022https:\/\/commons.laws.africa\/akn\/sc\/act\/2015\/18\/media\/publication\/sc-act-2015-18-publication-document.pdf\u0022\u003EPublished in Supplement to Official Gazette on 19 November 2015\u003C\/a\u003E\n      \n    \u003C\/li\u003E\n  \n\n\n      \n        \n          \u003Cli class=\u0022assent-date\u0022\u003E\n            Assented to on 16 November 2015\n          \u003C\/li\u003E\n        \n      \n\n      \n        \n        \u003Cli class=\u0022commencement-date\u0022\u003E\n          Commenced on 19 November 2015 by\n          \n            \u003Ca href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/si\/2015\/56\u0022\u003E\n              Conservation and Climate Adaptation Trust of Seychelles Act, 2015 (Commencement) Notice, 2015\n            \u003C\/a\u003E\n          \n        \u003C\/li\u003E\n        \n        \n      \n\n      \n        \n          \u003Cli class=\u0022as-at-date-notice\u0022\u003E\n            [This is the version of this document \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Efrom 17\u003C\/del\u003E\u003Cins\u003Eas it was from 19 November 2015 to 16\u003C\/ins\u003E\u003C\/span\u003E October 2022.]\n          \u003C\/li\u003E\n        \n      \n\n      \n        \n        \n        \n      \n\n      \n        \n          \n        \n      \n\n      \n        \n          \n        \n      \n    \u003C\/ul\u003E\n  \n\n  \n    \n\n\n\u003Cins\u003E\n  \n\u003C\/ins\u003E\u003Col class=\u0022del amendment-list\u0022\u003E\n  \n  \u003Cli class=\u0022amendment\u0022\u003E\n    \n      \n      \n        \n          [Amended by \u003Ca href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 class=\u0022amending-title\u0022\u003EConservation and Climate Adaptation Trust of Seychelles (Amendment) Act, 2022 (Act 23 of 2022)\u003C\/a\u003E on \u003Cspan class=\u0022amendment-date\u0022\u003E17 October 2022\u003C\/span\u003E]\n        \n      \n    \n  \u003C\/li\u003E\n  \n\n  \n\u003C\/ol\u003E\n\n\n  \n\u003C\/div\u003E\n\n\n\n\n\n\n\n\u003Cspan class=\u0022akn-akomaNtoso\u0022\u003E\u003Cspan class=\u0022akn-act\u0022 data-name=\u0022act\u0022 diff:delete-attr=\u0022data-contains\u0022\u003E\u003Csection class=\u0022akn-preface\u0022 id=\u0022preface\u0022\u003E\u003Cspan class=\u0022akn-longTitle\u0022 data-eid=\u0022preface__longTitle_1\u0022 id=\u0022preface__longTitle_1\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022preface__longTitle_1__p_1\u0022 id=\u0022preface__longTitle_1__p_1\u0022\u003EAN ACT to provide for establishment of the \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003ESeychelles\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003EConservation and Climate Adaptation Trust \u003Cins\u003Eof Seychelles \u003C\/ins\u003Efor the purpose of regulating the debt swap transactions and for matters connected therewith or incidental thereto.\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022preface__p_1\u0022 id=\u0022preface__p_1\u0022\u003E\u003Cspan class=\u0022del akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[long title amended by section 3 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022preface__p_1__ref_1\u0022 id=\u0022preface__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003Cins\u003EENACTED by the President and the National Assembly.\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022preface__p_2\u0022 id=\u0022preface__p_2\u0022\u003EENACTED by the President and the National Assembly.\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022akn-body\u0022\u003E\u003Csection class=\u0022akn-part\u0022 id=\u0022part_I\u0022 data-eid=\u0022part_I\u0022\u003E\u003Ch2\u003EPart I \u0026#x2013; Preliminary\u003C\/h2\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_I__sec_1\u0022 data-eid=\u0022part_I__sec_1\u0022\u003E\u003Ch3\u003E1. Short title and commencement\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_I__sec_1__subsec_1\u0022 data-eid=\u0022part_I__sec_1__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_1__subsec_1__p_1\u0022 id=\u0022part_I__sec_1__subsec_1__p_1\u0022\u003EThis Act may be cited as the \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;Seychelles\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003EConservation and Climate Adaptation \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003ETrust\u003C\/del\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_1__subsec_1__p_1__term_1\u0022 id=\u0022part_I__sec_1__subsec_1__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003C\/span\u003E\u003Cins\u003E of Seychelles\u003C\/ins\u003E Act, 2015.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_1__subsec_1__p_2\u0022 id=\u0022part_I__sec_1__subsec_1__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection (1) amended by section 2 of \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_1__subsec_1__p_2__ref_1\u0022 id=\u0022part_I__sec_1__subsec_1__p_2__ref_1\u0022\u003EAct 23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_I__sec_1__subsec_2\u0022 data-eid=\u0022part_I__sec_1__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_1__subsec_2__p_1\u0022 id=\u0022part_I__sec_1__subsec_2__p_1\u0022\u003EIt shall come into operation on such date as the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_I__sec_1__subsec_2__p_1__term_1\u0022 id=\u0022part_I__sec_1__subsec_2__p_1__term_1\u0022\u003EMinister\u003C\/span\u003E may, by notice published in the \u003Ci class=\u0022akn-i\u0022\u003EGazette\u003C\/i\u003E, appoint.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_I__sec_2\u0022 data-eid=\u0022part_I__sec_2\u0022\u003E\u003Ch3\u003E2. Interpretation\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-blockList\u0022 data-eid=\u0022part_I__sec_2__list_1\u0022 id=\u0022part_I__sec_2__list_1\u0022\u003E\u003Cspan class=\u0022akn-listIntroduction\u0022 data-eid=\u0022part_I__sec_2__list_1__intro_1\u0022 id=\u0022part_I__sec_2__list_1__intro_1\u0022\u003EIn this Act, unless the context otherwise requires\u0026#x2014;\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1\u0022\u003E\u003Cspan class=\u0022akn-blockList\u0022 data-refersto=\u0022#term-administrative_expenses\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1\u0022\u003E\u003Cspan class=\u0022akn-listIntroduction\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__intro_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__intro_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-administrative_expenses\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__intro_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__intro_1__def_1\u0022\u003Eadministrative expenses\u003C\/span\u003E\u0026#x201D; means the expenditure incurred for payments of\u0026#x2014;\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_i\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_i\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(i)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_i__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_i__p_1\u0022\u003Esalaries and employment benefits to staff;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_ii\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_ii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(ii)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_ii__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_ii__p_1\u0022\u003Efees to consultants engaged by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_ii__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_ii__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E; and\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(iii)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_1\u0022\u003Eexpenses to meet the costs for training of staff, publications, office operation costs, staff vehicle, staff travel and such other costs as may be \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Edetermined by the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003Eprescribed by regulations\u003C\/ins\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (iii) amended by section 4(a) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_1__list_1__item_iii__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_2\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-annual_workplan\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_2__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_2__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-annual_workplan\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_2__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_2__p_1__def_1\u0022\u003Eannual workplan\u003C\/span\u003E\u0026#x201D; means the work plan approved each \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_2__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_2__p_1__term_1\u0022\u003Efiscal year\u003C\/span\u003E by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_2__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_2__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E for spending the anticipated revenues of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_2__p_1__term_3\u0022 id=\u0022part_I__sec_2__list_1__item_nn_2__p_1__term_3\u0022\u003ETrust\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-biodiversity\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-biodiversity\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_1__def_1\u0022\u003Ebiodiversity\u003C\/span\u003E\u0026#x201D; means the variability amongst living organisms from all sources including terrestrial, marine and other aquatic ecosystems and the ecological complexes of which they are part and includes diversity within species, between species and of ecosystems;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;biodiversity\u0026#x201D; inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__p_1__def_1\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_1__def_1\u0022\u003EBoard\u003C\/span\u003E\u0026#x201D; means the Board of Directors of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E appointed under section \u003Ca data-href=\u0022#part_III__sec_8\u0022 class=\u0022del akn-ref\u0022 href=\u0022#part_III__sec_8\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__p_1__ref_1\u0022\u003E8\u003C\/a\u003E\u003Ca data-href=\u0022#part_III__sec_8\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_8\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_1__ref_1\u0022\u003E8\u003C\/a\u003E\u003Cins\u003E and formally constituted under section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_III__sec_8__subsec_4\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_8__subsec_4\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_3__p_1__ref_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_3__p_1__ref_2\u0022\u003E8(4)\u003C\/a\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;Board\u0026#x201D; amended by section 4(b) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4\u0022\u003E\u003Cspan class=\u0022akn-blockList\u0022 data-refersto=\u0022#term-budget\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1\u0022\u003E\u003Cspan class=\u0022akn-listIntroduction\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__intro_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__intro_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-budget\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__intro_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__intro_1__def_1\u0022\u003Ebudget\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-budget\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__intro_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__intro_1__def_1\u0022\u003Ebudget\u003C\/span\u003E\u0026#x201D; means an annual budget of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__intro_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__intro_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__intro_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__intro_1__term_1\u0022\u003ETrust\u003C\/span\u003E which sets forth the costs of\u0026#x2014;\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_i\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_i\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(i)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_i__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_i__p_1\u0022\u003Emonitoring and evaluating the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Seychelles_system_of_protected_areas\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_i__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_i__p_1__term_1\u0022\u003ESeychelles system of protected areas\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Seychelles_system_of_protected_areas\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_i__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_i__p_1__term_1\u0022\u003ESeychelles system of protected areas\u003C\/span\u003E,\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_ii\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_ii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(ii)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_ii__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_ii__p_1\u0022\u003Eadministration of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_ii__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_ii__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E;\u003C\/del\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_ii__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_ii__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003C\/span\u003E\u003Cins\u003E; and\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_ii__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_ii__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (ii) amended by section 4(c)(i) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_ii__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_ii__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_iii\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_iii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(iii)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_iii__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_iii__p_1\u0022\u003Egrants and financial commitments to projects consistent with the objects of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iii__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iii__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_iii__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_4__list_1__item_iii__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(iv)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_1\u0022\u003Esuch other costs approved by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (iv) added by section 4(c)(ii) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__list_1__item_iv__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-business_tax\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-business_tax\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_1__def_1\u0022\u003Ebusiness tax\u003C\/span\u003E\u0026#x201D; means tax imposed under the Business Tax Act, \u003Ca data-href=\u0022\/akn\/sc\/act\/2009\/28\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2009\/28\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_1__ref_1\u0022\u003ECap. 20\u003C\/a\u003E;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;business tax\u0026#x201D; inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_1__def_1\u0022\u003EChairperson\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__p_1__def_1\u0022\u003EChairperson\u003C\/span\u003E\u0026#x201D; means the Chairperson of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;designa\u003C\/del\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003C\/span\u003E\u003Cins\u003E appoin\u003C\/ins\u003Eted under section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2\u0022 class=\u0022del akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_1__ref_1\u0022\u003E7(2)\u003C\/a\u003E\u003Ca data-href=\u0022#part_III__sec_10\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_10\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_5__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_5__p_1__ref_1\u0022\u003E10\u003C\/a\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;Chairperson\u0026#x201D; amended by section 4(d) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8__p_1__def_1\u0022\u003EChief Executive Officer\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_1__def_1\u0022\u003EChief Executive Officer\u003C\/span\u003E\u0026#x201D; means the Chief Executive Officer appointed by the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E in accordance with section \u003Ca data-href=\u0022#part_III__sec_12\u0022 class=\u0022del akn-ref\u0022 href=\u0022#part_III__sec_12\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8__p_1__ref_1\u0022\u003E12\u003C\/a\u003E\u003Ca data-href=\u0022#part_III__sec_12\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_12\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_6__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_6__p_1__ref_1\u0022\u003E12\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-conservation\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-conservation\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1__def_1\u0022\u003Econservation\u003C\/span\u003E\u0026#x201D; means protection of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-biodiversity\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_1\u0022\u003Ebiodiversity\u003C\/span\u003E including associated \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-ecosystem\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_2\u0022\u003Eecosystem\u003C\/span\u003E and cultural values;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;conservation\u0026#x201D; inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_10__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_10__p_1__def_1\u0022\u003Edebt swap incomes\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_1__def_1\u0022\u003Edebt swap incomes\u003C\/span\u003E\u0026#x201D; means the payments received by the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_10__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_10__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_7__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_7__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E in respect of the debt swap transactions during the first 20 years of the commencement of this Act;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-debt_swap_transaction\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-debt_swap_transaction\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11__p_1__def_1\u0022\u003Edebt swap transaction\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-debt_swap_transaction\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8__p_1__def_1\u0022\u003Edebt swap transaction\u003C\/span\u003E\u0026#x201D; means any purchase by the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E of a portion of the sovereign debt of the Seychelles at a discount and any other arrangements or agreements entered into between the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_8__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_8__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E and the Seychelles in respect of repayment, rescheduling, forgiveness or cancellation of such debt;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_1__def_1\u0022\u003EDirector\u003C\/span\u003E\u0026#x201D; means a person appointed as a Director of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E under section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_c\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_c\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_1__ref_1\u0022\u003E7(2)(c)\u003C\/a\u003E and, where the context permits, includes an \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Director;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;Director\u0026#x201D; inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-ecosystem\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-ecosystem\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13__p_1__def_1\u0022\u003Eecosystem\u003C\/span\u003E\u0026#x201D; means a dynamic complex of plant, animal and micro-organism communities and their non-living environment interacting as a functional unit;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;ecosystem\u0026#x201D; inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1\u0022 data-refersto=\u0022#term-eligible_protected_area\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-eligible_protected_area\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_14__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_14__p_1__def_1\u0022\u003Eeligible protected area\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-eligible_protected_area\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1__def_1\u0022\u003Eeligible protected area\u003C\/span\u003E\u0026#x201D; \u003Cspan class=\u0022del akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;eligible protected area\u0026#x201D; repealed by section 4(e) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_14__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_14__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003Cins\u003Emeans a \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-protected_area\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_1\u0022\u003Eprotected area\u003C\/span\u003E\u003Cins\u003E determined as such by the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_9__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003E taking into account its biodiversity and natural, marine, social, infrastructure, scientific or scenic values;\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_10\u0022 id=\u0022part_I__sec_2__list_1__item_nn_10\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_10__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_10__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_15__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_15__p_1__def_1\u0022\u003EEndowment Fund\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_10__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_10__p_1__def_1\u0022\u003EEndowment Fund\u003C\/span\u003E\u0026#x201D; means the Endowment Fund referred to in section \u003Ca data-href=\u0022#part_IV__sec_21\u0022 class=\u0022del akn-ref\u0022 href=\u0022#part_IV__sec_21\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_15__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_15__p_1__ref_1\u0022\u003E21\u003C\/a\u003E\u003Ca data-href=\u0022#part_IV__sec_21\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_IV__sec_21\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_10__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_10__p_1__ref_1\u0022\u003E21\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11\u0022\u003E\u003Cspan class=\u0022ins akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11__p_1\u0022 data-refersto=\u0022#term-ex_officio_Director\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-ex_officio_Director\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11__p_1__def_1\u0022\u003E\u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Director\u003C\/span\u003E\u0026#x201D; means a Director of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E appointed under section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_11__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_11__p_1__ref_1\u0022\u003E7(2)(a)\u003C\/a\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1\u0022\u003E\u0026#x201C;\u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u0026#x201D; means a \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1__term_3\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E appointed under section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1__ref_1\u0022\u003E7(2)(a)\u003C\/a\u003E and \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1__ref_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1__ref_2\u0022\u003E(b)\u003C\/a\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;\u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Director\u0026#x201D; amended by section 4(f) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_17__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_17__p_1__def_1\u0022\u003Efiscal year\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_12__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_12__p_1__def_1\u0022\u003Efiscal year\u003C\/span\u003E\u0026#x201D; means the period of 12 months from 1\u003Csup class=\u0022akn-sup\u0022\u003Est\u003C\/sup\u003E January to 31st December;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__p_1__def_1\u0022\u003Einvestment guidelines\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13__p_1__def_1\u0022\u003Einvestment guidelines\u003C\/span\u003E\u0026#x201D; means the investment policy, objectives and guidelines approved by \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__p_1__term_1\u0022\u003Especial majority vote\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_13__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_13__p_1__term_1\u0022\u003Especial majority vote\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_14\u0022 id=\u0022part_I__sec_2__list_1__item_nn_14\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_14__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_14__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_19__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_19__p_1__def_1\u0022\u003EMinister\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_14__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_14__p_1__def_1\u0022\u003EMinister\u003C\/span\u003E\u0026#x201D; means the Minister responsible for finance;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-non_governmental_organization\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-non_governmental_organization\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20__p_1__def_1\u0022\u003Enon-governmental organization\u003C\/span\u003E\u0026#x201D; means an organization, body or juristic person who is not under the control of any Government;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;non-governmental organization\u0026#x201D; inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_15\u0022 id=\u0022part_I__sec_2__list_1__item_nn_15\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_15__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_15__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_21__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_21__p_1__def_1\u0022\u003Eoperational manual\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_15__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_15__p_1__def_1\u0022\u003Eoperational manual\u003C\/span\u003E\u0026#x201D; means the operational manual approved by the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_21__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_21__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_15__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_15__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E for coordinating the anticipated activities and providing for the administrative policy guidance and instructions of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_21__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_21__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_15__p_1__term_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_15__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-protected_area\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-protected_area\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_22__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_22__p_1__def_1\u0022\u003Eprotected area\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-protected_area\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_16__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_16__p_1__def_1\u0022\u003Eprotected area\u003C\/span\u003E\u0026#x201D; means a\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;clearly defined geographical space, recognised, dedicated and managed to meet the objectives for\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-conservation\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_22__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_22__p_1__term_1\u0022\u003Econservation\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;or sustainable use\u003C\/del\u003E\u003Cins\u003En area of land or sea especially dedicated to the protection and maintenance of biological diversity or natural resources, managed through a legal or other effective mean\u003C\/ins\u003E\u003C\/span\u003Es;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_22__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_22__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;protected area\u0026#x201D; repealed by section 4(g) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_22__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_22__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E and inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_22__p_2__ref_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_22__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_17\u0022 id=\u0022part_I__sec_2__list_1__item_nn_17\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Seychelles_system_of_protected_areas\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_17__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_17__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-Seychelles_system_of_protected_areas\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_23__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_23__p_1__def_1\u0022\u003ESeychelles system of protected areas\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-Seychelles_system_of_protected_areas\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_17__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_17__p_1__def_1\u0022\u003ESeychelles system of protected areas\u003C\/span\u003E\u0026#x201D; means the system of protection and maintenance of the protected areas of Seychelles\u003Cins\u003E and includes any other \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-eligible_protected_area\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_17__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_17__p_1__term_1\u0022\u003Eeligible protected area\u003C\/span\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_23__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_23__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;Seychelles system of protected areas\u0026#x201D;  amended by section 4(h) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_23__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_23__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18\u0022\u003E\u003Cspan class=\u0022akn-blockList\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1\u0022\u003E\u003Cspan class=\u0022akn-listIntroduction\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1__intro_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1__intro_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_24__list_1__intro_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_24__list_1__intro_1__def_1\u0022\u003Especial majority vote\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1__intro_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1__intro_1__def_1\u0022\u003Especial majority vote\u003C\/span\u003E\u0026#x201D; means the affirmative vote of\u0026#x2014;\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_i\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_i\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(i)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_i__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_i__p_1\u0022\u003Eeach of the \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Directors; and\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_ii\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_ii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(ii)\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_ii__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_ii__p_1\u0022\u003Eat least two-thirds of other Directors appointed under section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_c\u0022 class=\u0022del akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_c\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_24__list_1__item_ii__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_24__list_1__item_ii__p_1__ref_1\u0022\u003E7(2)(c)\u003C\/a\u003E\u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_ii__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_18__list_1__item_ii__p_1__ref_1\u0022\u003E7(2)(b)\u003C\/a\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_24__list_1__item_ii__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_24__list_1__item_ii__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (ii) amended by section 4(i) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_24__list_1__item_ii__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_24__list_1__item_ii__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_25\u0022 id=\u0022part_I__sec_2__list_1__item_nn_25\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-sustainable_use\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_25__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_25__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022akn-def\u0022 data-refersto=\u0022#term-sustainable_use\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_25__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_25__p_1__def_1\u0022\u003Esustainable use\u003C\/span\u003E\u0026#x201D; means an activity that does not lead to the long term decline in the health and integrity of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-biodiversity\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_25__p_1__term_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_25__p_1__term_1\u0022\u003Ebiodiversity\u003C\/span\u003E;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_25__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_25__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;sustainable use\u0026#x201D; inserted by section 4(j) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_25__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_25__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_19\u0022 id=\u0022part_I__sec_2__list_1__item_nn_19\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-The_Nature_Conservancy\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_19__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_19__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-The_Nature_Conservancy\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_26__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_26__p_1__def_1\u0022\u003EThe Nature Conservancy\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-The_Nature_Conservancy\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_19__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_19__p_1__def_1\u0022\u003EThe Nature Conservancy\u003C\/span\u003E\u0026#x201D; means the charitable environmental organisation founded in the year of 1951 with its headquarters situated in the United States of America;\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022akn-item\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20__p_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20__p_1\u0022\u003E\u0026#x201C;\u003Cspan class=\u0022del akn-def\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_27__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_27__p_1__def_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-def\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20__p_1__def_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20__p_1__def_1\u0022\u003ETrust\u003C\/span\u003E\u0026#x201D; means the \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003ESeychelles\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003EConservation and Climate Adaptation Trust \u003Cins\u003Eof Seychelles \u003C\/ins\u003Eestablished under section \u003Ca data-href=\u0022#part_II__sec_4\u0022 class=\u0022del akn-ref\u0022 href=\u0022#part_II__sec_4\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_27__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_27__p_1__ref_1\u0022\u003E4\u003C\/a\u003E\u003Ca data-href=\u0022#part_II__sec_4\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_II__sec_4\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_20__p_1__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_20__p_1__ref_1\u0022\u003E4\u003C\/a\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_27__p_2\u0022 id=\u0022part_I__sec_2__list_1__item_nn_27__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[definition of \u0026#x201C;Trust\u0026#x201D; amended by section 3 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_I__sec_2__list_1__item_nn_27__p_2__ref_1\u0022 id=\u0022part_I__sec_2__list_1__item_nn_27__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_I__sec_3\u0022 data-eid=\u0022part_I__sec_3\u0022\u003E\u003Ch3\u003E3. Act to prevail over other laws\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_I__sec_3__subsec_1\u0022 data-eid=\u0022part_I__sec_3__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_3__subsec_1__p_1\u0022 id=\u0022part_I__sec_3__subsec_1__p_1\u0022\u003EThe provisions of this Act shall, notwithstanding anything inconsistent contained in any other written law, for the time being in force, prevail to the extent of the inconsistency.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_I__sec_3__subsec_2\u0022 data-eid=\u0022part_I__sec_3__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_I__sec_3__subsec_2__p_1\u0022 id=\u0022part_I__sec_3__subsec_2__p_1\u0022\u003EWithout prejudice to subsection \u003Ca data-href=\u0022#part_I__sec_3__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_I__sec_3__subsec_1\u0022 data-eid=\u0022part_I__sec_3__subsec_2__p_1__ref_1\u0022 id=\u0022part_I__sec_3__subsec_2__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E, the provisions of this Act shall be in addition to, and not in derogation of, any other written law for the time being in force.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-part\u0022 id=\u0022part_II\u0022 data-eid=\u0022part_II\u0022\u003E\u003Ch2\u003EPart II \u0026#x2013; Establishment of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__term_1\u0022 id=\u0022part_II__term_1\u0022\u003ETrust\u003C\/span\u003E, its objects, functions and powers\u003C\/h2\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_II__sec_4\u0022 data-eid=\u0022part_II__sec_4\u0022\u003E\u003Ch3\u003E4. Establishment of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_4__term_1\u0022 id=\u0022part_II__sec_4__term_1\u0022\u003ETrust\u003C\/span\u003E\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_4__p_1\u0022 id=\u0022part_II__sec_4__p_1\u0022\u003EThere is hereby established a trust to be called as the Conservation and Climate Adaptation \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_4__p_1__term_1\u0022 id=\u0022part_II__sec_4__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E of Seychelles, which shall be a corporate body.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_II__sec_5\u0022 data-eid=\u0022part_II__sec_5\u0022\u003E\u003Ch3\u003E5. Objects of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_5__term_1\u0022 id=\u0022part_II__sec_5__term_1\u0022\u003ETrust\u003C\/span\u003E\u003C\/h3\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_5__intro__p_1\u0022 id=\u0022part_II__sec_5__intro__p_1\u0022\u003EThe objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_5__intro__p_1__term_1\u0022 id=\u0022part_II__sec_5__intro__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall be to\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_5__para_a\u0022 data-eid=\u0022part_II__sec_5__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_5__para_a__p_1\u0022 id=\u0022part_II__sec_5__para_a__p_1\u0022\u003Edevelop and administer the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_II__sec_5__para_a__p_1__term_1\u0022 id=\u0022part_II__sec_5__para_a__p_1__term_1\u0022\u003EEndowment Fund\u003C\/span\u003E, the Revolving Fund and the Additional \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_II__sec_5__para_a__p_1__term_2\u0022 id=\u0022part_II__sec_5__para_a__p_1__term_2\u0022\u003EEndowment Fund\u003C\/span\u003E\u003Cins\u003E, and any other sources of funding\u003C\/ins\u003E;\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_II__sec_5__para_a__p_2\u0022 id=\u0022part_II__sec_5__para_a__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (a) amended by section 5(a) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_II__sec_5__para_a__p_2__ref_1\u0022 id=\u0022part_II__sec_5__para_a__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_5__para_b\u0022 data-eid=\u0022part_II__sec_5__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_5__para_b__p_1\u0022 id=\u0022part_II__sec_5__para_b__p_1\u0022\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Eexplore, develop or administer any fund or source of funding, including but not limited to bonds, endowments, grants, investments, loans, guarantees or securities for the benefit of\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-conservation\u0022 data-eid=\u0022part_II__sec_5__para_b__p_1__term_1\u0022 id=\u0022part_II__sec_5__para_b__p_1__term_1\u0022\u003Econservation\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, climate adaptation and mitigationor sustainable blue economy development;\u003C\/del\u003E\u003Cins\u003Eadminister the assets of the \u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_5__para_b__p_1__term_1\u0022 id=\u0022part_II__sec_5__para_b__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003E, intended to provide a sustainable flow of funds which supplements existing and future funds from any sources to enable the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_5__para_b__p_1__term_2\u0022 id=\u0022part_II__sec_5__para_b__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003E to support the long-term management and expansion of the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Seychelles_system_of_protected_areas\u0022 data-eid=\u0022part_II__sec_5__para_b__p_1__term_3\u0022 id=\u0022part_II__sec_5__para_b__p_1__term_3\u0022\u003ESeychelles system of protected areas\u003C\/span\u003E\u003Cins\u003E and other activities which contribute substantially to the conservation, protection and maintenance of biodiversity and the adaptation to the climate change as identified through consultations with stakeholders; and\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_II__sec_5__para_b__p_2\u0022 id=\u0022part_II__sec_5__para_b__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (b) inserted by section 5(c) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_II__sec_5__para_b__p_2__ref_1\u0022 id=\u0022part_II__sec_5__para_b__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_5__para_c\u0022 data-eid=\u0022part_II__sec_5__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_5__para_c__p_1\u0022 id=\u0022part_II__sec_5__para_c__p_1\u0022\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Eadminister the assets of the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_5__para_c__p_1__term_1\u0022 id=\u0022part_II__sec_5__para_c__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, intended to provide a sustainable flow of funds which supplements existing and future funds from any sources to enable the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_5__para_c__p_1__term_2\u0022 id=\u0022part_II__sec_5__para_c__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;to support the long-term management and expansion of the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Seychelles_system_of_protected_areas\u0022 data-eid=\u0022part_II__sec_5__para_c__p_1__term_3\u0022 id=\u0022part_II__sec_5__para_c__p_1__term_3\u0022\u003ESeychelles system of protected areas\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;and other activities which contribute substantially to the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-conservation\u0022 data-eid=\u0022part_II__sec_5__para_c__p_1__term_4\u0022 id=\u0022part_II__sec_5__para_c__p_1__term_4\u0022\u003Econservation\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, protection and maintenance of\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-biodiversity\u0022 data-eid=\u0022part_II__sec_5__para_c__p_1__term_5\u0022 id=\u0022part_II__sec_5__para_c__p_1__term_5\u0022\u003Ebiodiversity\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;and the adaptation to the climate change as identified through consultations with stakeholders; and\u003C\/del\u003E\u003Cins\u003Eperform exclusively for charitable, educational and scientific purposes for the benefit of the public in accordance with this Act.\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_II__sec_5__para_c__p_2\u0022 id=\u0022part_II__sec_5__para_c__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (c), previously paragraph \u003Ca data-href=\u0022#part_II__sec_5__para_b\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_II__sec_5__para_b\u0022 data-eid=\u0022part_II__sec_5__para_c__p_2__ref_1\u0022 id=\u0022part_II__sec_5__para_c__p_2__ref_1\u0022\u003E(b)\u003C\/a\u003E, renumbered by section 5(b) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_II__sec_5__para_c__p_2__ref_2\u0022 id=\u0022part_II__sec_5__para_c__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-paragraph\u0022 id=\u0022part_II__sec_5__para_d\u0022 data-eid=\u0022part_II__sec_5__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_5__para_d__p_1\u0022 id=\u0022part_II__sec_5__para_d__p_1\u0022\u003Eperform exclusively for charitable, educational and scientific purposes for the benefit of the public in accordance with this Act.\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_5__para_d__p_2\u0022 id=\u0022part_II__sec_5__para_d__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (d), previously paragraph \u003Ca data-href=\u0022#part_II__sec_5__para_c\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_II__sec_5__para_c\u0022 data-eid=\u0022part_II__sec_5__para_d__p_2__ref_1\u0022 id=\u0022part_II__sec_5__para_d__p_2__ref_1\u0022\u003E(c)\u003C\/a\u003E, renumbered by section 5(b) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_II__sec_5__para_d__p_2__ref_2\u0022 id=\u0022part_II__sec_5__para_d__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_II__sec_6\u0022 data-eid=\u0022part_II__sec_6\u0022\u003E\u003Ch3\u003E6. Functions and powers of trust\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_II__sec_6__subsec_1\u0022 data-eid=\u0022part_II__sec_6__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_1__intro__p_1\u0022 id=\u0022part_II__sec_6__subsec_1__intro__p_1\u0022\u003EThe functions of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_1__intro__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_1__intro__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E are to\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_6__subsec_1__para_a\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_a__p_1\u0022 id=\u0022part_II__sec_6__subsec_1__para_a__p_1\u0022\u003Eaccept donations which may be subject to conditions imposed by donors; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_6__subsec_1__para_b\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__intro__p_1\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__intro__p_1\u0022\u003Emake loans, grants, borrow subject to the approval of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__intro__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__intro__p_1__term_1\u0022\u003EMinister\u003C\/span\u003E or invest money\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-subparagraph\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__subpara_i\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__subpara_i\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(i)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__subpara_i__p_1\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__subpara_i__p_1\u0022\u003Eto achieve the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__subpara_i__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__subpara_i__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E, in accordance with this Act; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subparagraph\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(ii)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii__p_1\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii__p_1\u0022\u003Ewhich in the opinion of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E is reasonably expected not to impair the ability of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii__p_1__term_2\u0022 id=\u0022part_II__sec_6__subsec_1__para_b__subpara_ii__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E to achieve its objects.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_II__sec_6__subsec_2\u0022 data-eid=\u0022part_II__sec_6__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_2__p_1\u0022 id=\u0022part_II__sec_6__subsec_2__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_2__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_2__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall not incur any part of its earnings or assets to the benefit of any individual or distribute to its Directors, officers or other persons.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_II__sec_6__subsec_3\u0022 data-eid=\u0022part_II__sec_6__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_3__intro__p_1\u0022 id=\u0022part_II__sec_6__subsec_3__intro__p_1\u0022\u003EWithout prejudice to subsection \u003Ca data-href=\u0022#part_II__sec_6__subsec_2\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_II__sec_6__subsec_2\u0022 data-eid=\u0022part_II__sec_6__subsec_3__intro__p_1__ref_1\u0022 id=\u0022part_II__sec_6__subsec_3__intro__p_1__ref_1\u0022\u003E(2)\u003C\/a\u003E, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_II__sec_6__subsec_3__intro__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_3__intro__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E may authorise the payment of\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_6__subsec_3__para_a\u0022 data-eid=\u0022part_II__sec_6__subsec_3__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_3__para_a__p_1\u0022 id=\u0022part_II__sec_6__subsec_3__para_a__p_1\u0022\u003Eany reasonable remuneration for services rendered by the officers and other persons; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_6__subsec_3__para_b\u0022 data-eid=\u0022part_II__sec_6__subsec_3__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_3__para_b__p_1\u0022 id=\u0022part_II__sec_6__subsec_3__para_b__p_1\u0022\u003Eany expenditure incurred in furtherance of the objects and purposes under this Act\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E.\u003C\/del\u003E\u003Cins\u003E,\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_3__wrapup__p_1\u0022 id=\u0022part_II__sec_6__subsec_3__wrapup__p_1\u0022\u003E\u003Cspan class=\u0022del akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_II__sec_6__subsec_3\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_II__sec_6__subsec_3\u0022 data-eid=\u0022part_II__sec_6__subsec_3__wrapup__p_1__ref_1\u0022 id=\u0022part_II__sec_6__subsec_3__wrapup__p_1__ref_1\u0022\u003E(3)\u003C\/a\u003E amended by section 6(a) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_II__sec_6__subsec_3__wrapup__p_1__ref_2\u0022 id=\u0022part_II__sec_6__subsec_3__wrapup__p_1__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003Cins\u003Esubject to the condition that the aggregate of such payment does not exceed 5 percent of the annual revenue of the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_3__wrapup__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_3__wrapup__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003E for any \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_II__sec_6__subsec_3__wrapup__p_1__term_2\u0022 id=\u0022part_II__sec_6__subsec_3__wrapup__p_1__term_2\u0022\u003Efiscal year\u003C\/span\u003E\u003Cins\u003E or such higher amount as may be prescribed by regulations.\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_II__sec_6__subsec_4\u0022 data-eid=\u0022part_II__sec_6__subsec_4\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(4)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_4__p_1\u0022 id=\u0022part_II__sec_6__subsec_4__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_4__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_4__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall not participate or intervene in any political campaign (including publishing or distributing statements) on behalf of (or in opposition to) any candidate for political office or any political party.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_II__sec_6__subsec_5\u0022 data-eid=\u0022part_II__sec_6__subsec_5\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(5)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_5__intro__p_1\u0022 id=\u0022part_II__sec_6__subsec_5__intro__p_1\u0022\u003ESubject to any restrictions prescribed by regulations, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_5__intro__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_5__intro__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E may advice the Government on\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_6__subsec_5__para_a\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_a__p_1\u0022 id=\u0022part_II__sec_6__subsec_5__para_a__p_1\u0022\u003Eany matter concerning the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_a__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_5__para_a__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E which may be affected by public policy;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_6__subsec_5__para_b\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_b__p_1\u0022 id=\u0022part_II__sec_6__subsec_5__para_b__p_1\u0022\u003Eany matter which the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_b__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_5__para_b__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E determines may affect any \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-protected_area\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_b__p_1__term_2\u0022 id=\u0022part_II__sec_6__subsec_5__para_b__p_1__term_2\u0022\u003Eprotected area\u003C\/span\u003E\u003Cins\u003E or \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-eligible_protected_area\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_b__p_1__term_3\u0022 id=\u0022part_II__sec_6__subsec_5__para_b__p_1__term_3\u0022\u003Eeligible protected area\u003C\/span\u003E; or\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_b__p_2\u0022 id=\u0022part_II__sec_6__subsec_5__para_b__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (b) amended by section 6(b) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_b__p_2__ref_1\u0022 id=\u0022part_II__sec_6__subsec_5__para_b__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_II__sec_6__subsec_5__para_c\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_c__p_1\u0022 id=\u0022part_II__sec_6__subsec_5__para_c__p_1\u0022\u003Eany other matter for which the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_5__para_c__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_5__para_c__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E is responsible for promoting or supporting and which is consistent with its objects.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_II__sec_6__subsec_6\u0022 data-eid=\u0022part_II__sec_6__subsec_6\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(6)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_II__sec_6__subsec_6__p_1\u0022 id=\u0022part_II__sec_6__subsec_6__p_1\u0022\u003ENotwithstanding any other provision of this Act, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_6__p_1__term_1\u0022 id=\u0022part_II__sec_6__subsec_6__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall not engage in any activity or exercise any power which is prejudicial to the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_II__sec_6__subsec_6__p_1__term_2\u0022 id=\u0022part_II__sec_6__subsec_6__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-part\u0022 id=\u0022part_III\u0022 data-eid=\u0022part_III\u0022\u003E\u003Ch2\u003EPart III \u0026#x2013; \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__term_1\u0022 id=\u0022part_III__term_1\u0022\u003EBoard\u003C\/span\u003E of Directors of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__term_2\u0022 id=\u0022part_III__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003ETrust\u003C\/ins\u003E, its powers and functions\u003C\/h2\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_7\u0022 data-eid=\u0022part_III__sec_7\u0022\u003E\u003Ch3\u003E7. \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_7__term_1\u0022 id=\u0022part_III__sec_7__term_1\u0022\u003EBoard\u003C\/span\u003E of Directors\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_7__subsec_1\u0022 data-eid=\u0022part_III__sec_7__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_1__p_1\u0022 id=\u0022part_III__sec_7__subsec_1__p_1\u0022\u003EThere shall be a \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_7__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_1__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E of Directors of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_7__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_7__subsec_1__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E consisting of Directors to be appointed under subsection \u003Ca data-href=\u0022#part_III__sec_7__subsec_2\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2\u0022 data-eid=\u0022part_III__sec_7__subsec_1__p_1__ref_1\u0022 id=\u0022part_III__sec_7__subsec_1__p_1__ref_1\u0022\u003E(2)\u003C\/a\u003E, which shall be responsible for management and administration of the affairs and operations of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_7__subsec_1__p_1__term_3\u0022 id=\u0022part_III__sec_7__subsec_1__p_1__term_3\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_7__subsec_2\u0022 data-eid=\u0022part_III__sec_7__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__intro__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__intro__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_7__subsec_2__intro__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_2__intro__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall co\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Emprise\u0026#xA0;\u003C\/del\u003E\u003Cins\u003Ensist of\u003C\/ins\u003E\u003C\/span\u003E\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_7__subsec_2__para_a\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022ins akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__intro__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__intro__p_1\u0022\u003E2 \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Directors appointed by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__intro__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__intro__p_1__term_1\u0022\u003EMinister\u003C\/span\u003E on the nomination made one each by\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022ins akn-subparagraph\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__subpara_i\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__subpara_i\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(i)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__subpara_i__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__subpara_i__p_1\u0022\u003Ethe Government of Seychelles;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-subparagraph\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__subpara_ii\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__subpara_ii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(ii)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__subpara_ii__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__subpara_ii__p_1\u0022\u003Ethe Nature Conservancy; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022del akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__p_1\u0022\u003Ethe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__p_1__term_1\u0022\u003EMinister\u003C\/span\u003E responsible for Environment who shall be an \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__p_1__term_2\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E and the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_a__p_1__term_3\u0022 id=\u0022part_III__sec_7__subsec_2__para_a__p_1__term_3\u0022\u003EChairperson\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_7__subsec_2__para_b\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b\u0022\u003E\u003Cspan class=\u0022del akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022ins akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022ins akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1\u0022\u003E7 other Directors having prescribed qualifications and experience to be appointed by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_1\u0022\u003EMinister\u003C\/span\u003E as nominated by the institutions selected by the Ex officio Directors of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_2\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E referred to in section \u003Ca data-href=\u0022#part_III__sec_8__subsec_3\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_8__subsec_3\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1__ref_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1__ref_1\u0022\u003E8(3)\u003C\/a\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1\u0022\u003Ea representative of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-The_Nature_Conservancy\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_1\u0022\u003EThe Nature Conservancy\u003C\/span\u003E who shall be an \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_2\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E and the Vice-\u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_3\u0022 id=\u0022part_III__sec_7__subsec_2__para_b__p_1__term_3\u0022\u003EChairperson\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-paragraph\u0022 id=\u0022part_III__sec_7__subsec_2__para_c\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_c__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_c__p_1\u0022\u003Eone \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_c__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_c__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E with qualifications and experience in finance nominated by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_c__p_1__term_2\u0022 id=\u0022part_III__sec_7__subsec_2__para_c__p_1__term_2\u0022\u003EMinister\u003C\/span\u003E and appointed by the \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Directors;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-paragraph\u0022 id=\u0022part_III__sec_7__subsec_2__para_d\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_d__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_d__p_1\u0022\u003Eone \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_d__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_d__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E employed in the public service appointed by the \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Directors in consultation with the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_d__p_1__term_2\u0022 id=\u0022part_III__sec_7__subsec_2__para_d__p_1__term_2\u0022\u003EMinister\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-paragraph\u0022 id=\u0022part_III__sec_7__subsec_2__para_e\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_e\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(e)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__para_e__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__para_e__p_1\u0022\u003Efive Directors not employment in Government appointed by the \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Directors.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022del akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_2__wrapup__p_1\u0022 id=\u0022part_III__sec_7__subsec_2__wrapup__p_1\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_7__subsec_2\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2\u0022 data-eid=\u0022part_III__sec_7__subsec_2__wrapup__p_1__ref_1\u0022 id=\u0022part_III__sec_7__subsec_2__wrapup__p_1__ref_1\u0022\u003E(2)\u003C\/a\u003E substituted by section 7 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_7__subsec_2__wrapup__p_1__ref_2\u0022 id=\u0022part_III__sec_7__subsec_2__wrapup__p_1__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_7__subsec_3\u0022 data-eid=\u0022part_III__sec_7__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_7__subsec_3__p_1\u0022 id=\u0022part_III__sec_7__subsec_3__p_1\u0022\u003EA person shall be eligible to be appointed as a \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_7__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_3__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E if he or she possesses qualifications and experience in the field, of ecological science, \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-biodiversity\u0022 data-eid=\u0022part_III__sec_7__subsec_3__p_1__term_2\u0022 id=\u0022part_III__sec_7__subsec_3__p_1__term_2\u0022\u003Ebiodiversity\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-conservation\u0022 data-eid=\u0022part_III__sec_7__subsec_3__p_1__term_3\u0022 id=\u0022part_III__sec_7__subsec_3__p_1__term_3\u0022\u003Econservation\u003C\/span\u003E\u003Cins\u003Ebiodiversity conservation\u003C\/ins\u003E, finance, law, investment management, fundraising or such other areas of expertise consistent with the object of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_7__subsec_3__p_1__term_4\u0022 id=\u0022part_III__sec_7__subsec_3__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_7__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_7__subsec_3__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_8\u0022 data-eid=\u0022part_III__sec_8\u0022\u003E\u003Ch3\u003E8. \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003EObservers at the meetings of\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__term_1\u0022 id=\u0022part_III__sec_8__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;of Directors or\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_8__term_2\u0022 id=\u0022part_III__sec_8__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003EAppointment of non official Directors and reconstitution of Board\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_8__subsec_1\u0022 data-eid=\u0022part_III__sec_8__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1\u0022 id=\u0022part_III__sec_8__subsec_1__p_1\u0022\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003EThe\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;may invite a person from outside the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, to be known as an \u0026#x201C;Observer\u0026#x201D;, who may observe or participate in any meeting of the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__term_3\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;or the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__term_4\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003ENotwithstanding anything in section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_III__sec_7\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_7\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__ref_1\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__ref_1\u0022\u003E7\u003C\/a\u003E\u003Cins\u003E, the first \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003E shall, on the commencement of this Act, be appointed by the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__term_2\u0022\u003EMinister\u003C\/span\u003E\u003Cins\u003E consisting of the \u003C\/ins\u003E\u003Ci class=\u0022ins akn-i\u0022\u003Eex officio\u003C\/i\u003E\u003Cins\u003E Directors referred to in section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 data-eid=\u0022part_III__sec_8__subsec_1__p_1__ref_2\u0022 id=\u0022part_III__sec_8__subsec_1__p_1__ref_2\u0022\u003E7(2)(a)\u003C\/a\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_8__subsec_2\u0022 data-eid=\u0022part_III__sec_8__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_8__subsec_2__p_1\u0022 id=\u0022part_III__sec_8__subsec_2__p_1\u0022\u003EThe \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_2__p_1__term_1\u0022 id=\u0022part_III__sec_8__subsec_2__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;shall decide the rights and privileges of an Observer\u003C\/del\u003E\u003Cins\u003Efirst \u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_2__p_1__term_1\u0022 id=\u0022part_III__sec_8__subsec_2__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003E appointed under subsection \u003C\/ins\u003E\u003Ca data-href=\u0022#part_III__sec_8__subsec_1\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_8__subsec_1\u0022 data-eid=\u0022part_III__sec_8__subsec_2__p_1__ref_1\u0022 id=\u0022part_III__sec_8__subsec_2__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E\u003Cins\u003E, shall convene its first meeting as soon as practicable but not later than 6 months from the commencement of this Act\u003C\/ins\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-subsection\u0022 data-eid=\u0022part_III__sec_8__subsec_3\u0022 id=\u0022part_III__sec_8__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_8__subsec_3__p_1\u0022 id=\u0022part_III__sec_8__subsec_3__p_1\u0022\u003EThe first \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_8__subsec_3__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall, at its first meeting referred to in subsection \u003Ca data-href=\u0022#part_III__sec_8__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_8__subsec_1\u0022 data-eid=\u0022part_III__sec_8__subsec_3__p_1__ref_1\u0022 id=\u0022part_III__sec_8__subsec_3__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E make recommendation for appointment of Directors from the institutions referred to in section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 data-eid=\u0022part_III__sec_8__subsec_3__p_1__ref_2\u0022 id=\u0022part_III__sec_8__subsec_3__p_1__ref_2\u0022\u003E7(2)(b)\u003C\/a\u003E by the unanimous vote of all \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Directors.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-subsection\u0022 data-eid=\u0022part_III__sec_8__subsec_4\u0022 id=\u0022part_III__sec_8__subsec_4\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(4)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 diff:rename=\u0022a\u0022 data-eid=\u0022part_III__sec_8__subsec_4__p_1\u0022 diff:delete-attr=\u0022href\u0022 id=\u0022part_III__sec_8__subsec_4__p_1\u0022\u003EOn the recommendation of tire first \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_4__p_1__term_1\u0022 id=\u0022part_III__sec_8__subsec_4__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E made under sub-section \u003Ca data-href=\u0022#part_III__sec_8__subsec_3\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_8__subsec_3\u0022 data-eid=\u0022part_III__sec_8__subsec_4__p_1__ref_1\u0022 id=\u0022part_III__sec_8__subsec_4__p_1__ref_1\u0022\u003E(3)\u003C\/a\u003Eother Directors shall be appointed in accordance with section \u003Ca data-href=\u0022#part_III__sec_7\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7\u0022 data-eid=\u0022part_III__sec_8__subsec_4__p_1__ref_2\u0022 id=\u0022part_III__sec_8__subsec_4__p_1__ref_2\u0022\u003E7\u003C\/a\u003E and the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_8__subsec_4__p_1__term_2\u0022 id=\u0022part_III__sec_8__subsec_4__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E shall be deemed to be formally constituted accordingly.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022del akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_8__wrapup__p_1\u0022 id=\u0022part_III__sec_8__wrapup__p_1\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[section 8 substituted by section 8 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_8__wrapup__p_1__ref_1\u0022 id=\u0022part_III__sec_8__wrapup__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_9\u0022 data-eid=\u0022part_III__sec_9\u0022\u003E\u003Ch3\u003E9. Terms of office of Directors of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__term_1\u0022 id=\u0022part_III__sec_9__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003EBoard\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_9__subsec_1\u0022 data-eid=\u0022part_III__sec_9__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_9__subsec_1__p_1\u0022 id=\u0022part_III__sec_9__subsec_1__p_1\u0022\u003EAn \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_9__subsec_1__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E appointed under section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 data-eid=\u0022part_III__sec_9__subsec_1__p_1__ref_1\u0022 id=\u0022part_III__sec_9__subsec_1__p_1__ref_1\u0022\u003E7(2)(a)\u003C\/a\u003E shall hold place until the term of his or her appointment, or he or she is replaced by another \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_9__subsec_1__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E appointed in accordance with section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_a\u0022 data-eid=\u0022part_III__sec_9__subsec_1__p_1__ref_2\u0022 id=\u0022part_III__sec_9__subsec_1__p_1__ref_2\u0022\u003E7(2)(a)\u003C\/a\u003E, or until the date of resignation, death or incapacity, whichever comes first.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_9__subsec_2\u0022 data-eid=\u0022part_III__sec_9__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_9__subsec_2__p_1\u0022 id=\u0022part_III__sec_9__subsec_2__p_1\u0022\u003EThe other Directors appointed under section \u003Ca data-href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_7__subsec_2__para_b\u0022 data-eid=\u0022part_III__sec_9__subsec_2__p_1__ref_1\u0022 id=\u0022part_III__sec_9__subsec_2__p_1__ref_1\u0022\u003E7(2)(b)\u003C\/a\u003E shall hold for a period of 3 years from the date of appointment.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_9__subsec_3\u0022 data-eid=\u0022part_III__sec_9__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1\u0022 id=\u0022part_III__sec_9__subsec_3__p_1\u0022\u003EAny \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_2\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E may, at any time, resign from office by letter addressed to the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_3\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_2\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E and such \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_4\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_4\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E shall cease to be a \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_5\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_5\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_6\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_6\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_3\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E from the date on which the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_7\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_7\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_3__p_1__term_4\u0022 id=\u0022part_III__sec_9__subsec_3__p_1__term_4\u0022\u003EBoard\u003C\/span\u003E receives the letter.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_9__subsec_4\u0022 data-eid=\u0022part_III__sec_9__subsec_4\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(4)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_9__subsec_4__p_1\u0022 id=\u0022part_III__sec_9__subsec_4__p_1\u0022\u003EWhere any \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_4__p_1__term_1\u0022 id=\u0022part_III__sec_9__subsec_4__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E vacates office, another \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_4__p_1__term_2\u0022 id=\u0022part_III__sec_9__subsec_4__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E Shall be appointed in accordance with this Act to replace that \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_4__p_1__term_3\u0022 id=\u0022part_III__sec_9__subsec_4__p_1__term_3\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E who shall hold office for the remaining period of term of office of that \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_4__p_1__term_4\u0022 id=\u0022part_III__sec_9__subsec_4__p_1__term_4\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_9__subsec_5\u0022 data-eid=\u0022part_III__sec_9__subsec_5\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(5)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_1\u0022 id=\u0022part_III__sec_9__subsec_5__p_1\u0022\u003EWhere any \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_1__term_1\u0022 id=\u0022part_III__sec_9__subsec_5__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E is temporarily unable to perform, functions for a period exceeding 3 months, due to ill health, other infirmity\u003Cins\u003E, absence from Seychelles\u003C\/ins\u003E or any other reason the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_1__term_2\u0022 id=\u0022part_III__sec_9__subsec_5__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_1__term_1\u0022 id=\u0022part_III__sec_9__subsec_5__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall appoint any other person to act for such \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_1__term_3\u0022 id=\u0022part_III__sec_9__subsec_5__p_1__term_3\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_2\u0022 id=\u0022part_III__sec_9__subsec_5__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_9__subsec_5\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_9__subsec_5\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_2__ref_1\u0022 id=\u0022part_III__sec_9__subsec_5__p_2__ref_1\u0022\u003E(5)\u003C\/a\u003E amended by section 9 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_9__subsec_5__p_2__ref_2\u0022 id=\u0022part_III__sec_9__subsec_5__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_10\u0022 data-eid=\u0022part_III__sec_10\u0022\u003E\u003Ch3\u003E10. \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_10__term_1\u0022 id=\u0022part_III__sec_10__term_1\u0022\u003EChairperson\u003C\/span\u003E, Vice-chairperson, and Treasurer\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_10__p_1\u0022 id=\u0022part_III__sec_10__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_10__p_1__term_1\u0022 id=\u0022part_III__sec_10__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall\u003Cins\u003E, at the first meeting after its format constitution under section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_III__sec_8__subsec_4\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_8__subsec_4\u0022 data-eid=\u0022part_III__sec_10__p_1__ref_1\u0022 id=\u0022part_III__sec_10__p_1__ref_1\u0022\u003E8(4)\u003C\/a\u003E\u003Cins\u003E,\u003C\/ins\u003E elect from amongst the Directors, a\u003Cins\u003E \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_10__p_1__term_2\u0022 id=\u0022part_III__sec_10__p_1__term_2\u0022\u003EChairperson\u003C\/span\u003E\u003Cins\u003E, Vice-\u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_10__p_1__term_3\u0022 id=\u0022part_III__sec_10__p_1__term_3\u0022\u003EChairperson\u003C\/span\u003E\u003Cins\u003E,\u003C\/ins\u003E Treasurer and Secretary of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_10__p_1__term_2\u0022 id=\u0022part_III__sec_10__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_10__p_1__term_4\u0022 id=\u0022part_III__sec_10__p_1__term_4\u0022\u003EBoard\u003C\/span\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_10__p_2\u0022 id=\u0022part_III__sec_10__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[section 10 amended by section 10(a) and (b) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_10__p_2__ref_1\u0022 id=\u0022part_III__sec_10__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_11\u0022 data-eid=\u0022part_III__sec_11\u0022\u003E\u003Ch3\u003E11. Meetings of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_11__term_1\u0022 id=\u0022part_III__sec_11__term_1\u0022\u003EBoard\u003C\/span\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_11__subsec_1\u0022 data-eid=\u0022part_III__sec_11__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_11__subsec_1__p_1\u0022 id=\u0022part_III__sec_11__subsec_1__p_1\u0022\u003EThere shall be not less than 2 meetings of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_11__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_11__subsec_1__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E every year and not more than 6 months shall intervene between one meeting and the next meeting;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_11__subsec_2\u0022 data-eid=\u0022part_III__sec_11__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_11__subsec_2__p_1\u0022 id=\u0022part_III__sec_11__subsec_2__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_11__subsec_2__p_1__term_1\u0022 id=\u0022part_III__sec_11__subsec_2__p_1__term_1\u0022\u003EChairperson\u003C\/span\u003E may by written notice convene a special meeting of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_11__subsec_2__p_1__term_2\u0022 id=\u0022part_III__sec_11__subsec_2__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E for any purpose specified in the notice.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_11__subsec_3\u0022 data-eid=\u0022part_III__sec_11__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_11__subsec_3__p_1\u0022 id=\u0022part_III__sec_11__subsec_3__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_11__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_11__subsec_3__p_1__term_1\u0022\u003EChairperson\u003C\/span\u003E or, in the absence of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_11__subsec_3__p_1__term_2\u0022 id=\u0022part_III__sec_11__subsec_3__p_1__term_2\u0022\u003EChairperson\u003C\/span\u003E, the Vice-\u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chairperson\u0022 data-eid=\u0022part_III__sec_11__subsec_3__p_1__term_3\u0022 id=\u0022part_III__sec_11__subsec_3__p_1__term_3\u0022\u003EChairperson\u003C\/span\u003E, shall preside at any meeting of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_11__subsec_3__p_1__term_4\u0022 id=\u0022part_III__sec_11__subsec_3__p_1__term_4\u0022\u003EBoard\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_11__subsec_4\u0022 data-eid=\u0022part_III__sec_11__subsec_4\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(4)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_11__subsec_4__p_1\u0022 id=\u0022part_III__sec_11__subsec_4__p_1\u0022\u003EAny question arising at a meeting of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_11__subsec_4__p_1__term_1\u0022 id=\u0022part_III__sec_11__subsec_4__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall be decided by the special majority votes.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_11__subsec_5\u0022 data-eid=\u0022part_III__sec_11__subsec_5\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(5)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_11__subsec_5__p_1\u0022 id=\u0022part_III__sec_11__subsec_5__p_1\u0022\u003EThe quorum for a meeting of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_11__subsec_5__p_1__term_1\u0022 id=\u0022part_III__sec_11__subsec_5__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall be both \u003Ci class=\u0022akn-i\u0022\u003Eex officio\u003C\/i\u003E Directors and 5 other Directors.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_11__subsec_6\u0022 data-eid=\u0022part_III__sec_11__subsec_6\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(6)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_11__subsec_6__p_1\u0022 id=\u0022part_III__sec_11__subsec_6__p_1\u0022\u003ESubject to this Act, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_11__subsec_6__p_1__term_1\u0022 id=\u0022part_III__sec_11__subsec_6__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall\u003Cins\u003E, by rules\u003C\/ins\u003E regulate its own procedure.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_11__subsec_6__p_2\u0022 id=\u0022part_III__sec_11__subsec_6__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_11__subsec_6\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_11__subsec_6\u0022 data-eid=\u0022part_III__sec_11__subsec_6__p_2__ref_1\u0022 id=\u0022part_III__sec_11__subsec_6__p_2__ref_1\u0022\u003E(6)\u003C\/a\u003E amended by section 11 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_11__subsec_6__p_2__ref_2\u0022 id=\u0022part_III__sec_11__subsec_6__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_12\u0022 data-eid=\u0022part_III__sec_12\u0022\u003E\u003Ch3 diff:rename=\u0022span\u0022 diff:delete-attr=\u0022class\u0022 class=\u0022ins \u0022\u003E12. Chief Executive Officer\u003C\/h3\u003E\u003Ch3 class=\u0022del \u0022\u003E12. \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_12__term_1\u0022 id=\u0022part_III__sec_12__term_1\u0022\u003EChief Executive Officer\u003C\/span\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_12__subsec_1\u0022 data-eid=\u0022part_III__sec_12__subsec_1\u0022\u003E\u003Cspan class=\u0022del akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022ins akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_1__p_1\u0022 id=\u0022part_III__sec_12__subsec_1__p_1\u0022\u003EThere shall be a \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_12__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_12__subsec_1__p_1__term_1\u0022\u003EChief Executive Officer\u003C\/span\u003E appointed by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_12__subsec_1__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E, on such terms and conditions \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Eas determined by the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_1__p_1__term_3\u0022 id=\u0022part_III__sec_12__subsec_1__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003Especified by rules, subject to the Government, policy applicable to the public bodies\u003C\/ins\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_1__p_2\u0022 id=\u0022part_III__sec_12__subsec_1__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_12__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_12__subsec_1\u0022 data-eid=\u0022part_III__sec_12__subsec_1__p_2__ref_1\u0022 id=\u0022part_III__sec_12__subsec_1__p_2__ref_1\u0022\u003E(1)\u003C\/a\u003E amended by section 12 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_12__subsec_1__p_2__ref_2\u0022 id=\u0022part_III__sec_12__subsec_1__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_12__subsec_2\u0022 data-eid=\u0022part_III__sec_12__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_2__intro__p_1\u0022 id=\u0022part_III__sec_12__subsec_2__intro__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_12__subsec_2__intro__p_1__term_1\u0022 id=\u0022part_III__sec_12__subsec_2__intro__p_1__term_1\u0022\u003EChief Executive Officer\u003C\/span\u003E\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_12__subsec_2__para_a\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_a__p_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_a__p_1\u0022\u003Eshall be responsible for the administration of the day to day functions of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_a__p_1__term_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_a__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E and discharge such other duties as may be assigned to him or her by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_a__p_1__term_2\u0022 id=\u0022part_III__sec_12__subsec_2__para_a__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_12__subsec_2__para_b\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_b__p_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_b__p_1\u0022\u003Eshall be responsible for the implementation of the decisions of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_b__p_1__term_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_b__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_12__subsec_2__para_c\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_c__p_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_c__p_1\u0022\u003Emay, subject to the direction of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_c__p_1__term_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_c__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E, sign documents on behalf of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_c__p_1__term_2\u0022 id=\u0022part_III__sec_12__subsec_2__para_c__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_12__subsec_2__para_d\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_d__p_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_d__p_1\u0022\u003Emay, subject to the direction of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_d__p_1__term_1\u0022 id=\u0022part_III__sec_12__subsec_2__para_d__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E, delegate to any employee of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_12__subsec_2__para_d__p_1__term_2\u0022 id=\u0022part_III__sec_12__subsec_2__para_d__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E any duty and responsibility.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_12__subsec_3\u0022 data-eid=\u0022part_III__sec_12__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_12__subsec_3__p_1\u0022 id=\u0022part_III__sec_12__subsec_3__p_1\u0022\u003ESubject to any direction of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_12__subsec_3__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_12__subsec_3__p_1__term_2\u0022 id=\u0022part_III__sec_12__subsec_3__p_1__term_2\u0022\u003EChief Executive Officer\u003C\/span\u003E shall participate in the meetings of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_12__subsec_3__p_1__term_3\u0022 id=\u0022part_III__sec_12__subsec_3__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E but shall not have the right to vote.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_13\u0022 data-eid=\u0022part_III__sec_13\u0022\u003E\u003Ch3\u003E13. Committees of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_13__term_1\u0022 id=\u0022part_III__sec_13__term_1\u0022\u003EBoard\u003C\/span\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_13__subsec_1\u0022 data-eid=\u0022part_III__sec_13__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_13__subsec_1__p_1\u0022 id=\u0022part_III__sec_13__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_13__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_13__subsec_1__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E may establish such committees as it may consider appropriate to advise it or to carry out such responsibilities of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_13__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_13__subsec_1__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003E in accordance with the procedures prescribed by rules\u003C\/ins\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_13__subsec_1__p_2\u0022 id=\u0022part_III__sec_13__subsec_1__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_13__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_13__subsec_1\u0022 data-eid=\u0022part_III__sec_13__subsec_1__p_2__ref_1\u0022 id=\u0022part_III__sec_13__subsec_1__p_2__ref_1\u0022\u003E(1)\u003C\/a\u003E amended by section 13 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_13__subsec_1__p_2__ref_2\u0022 id=\u0022part_III__sec_13__subsec_1__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_13__subsec_2\u0022 data-eid=\u0022part_III__sec_13__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_13__subsec_2__p_1\u0022 id=\u0022part_III__sec_13__subsec_2__p_1\u0022\u003EA \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_13__subsec_2__p_1__term_1\u0022 id=\u0022part_III__sec_13__subsec_2__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_13__subsec_2__p_1__term_2\u0022 id=\u0022part_III__sec_13__subsec_2__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_13__subsec_2__p_1__term_1\u0022 id=\u0022part_III__sec_13__subsec_2__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall be appointed as the chairperson of the committee established under subsection \u003Ca data-href=\u0022#part_III__sec_13__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_13__subsec_1\u0022 data-eid=\u0022part_III__sec_13__subsec_2__p_1__ref_1\u0022 id=\u0022part_III__sec_13__subsec_2__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_14\u0022 data-eid=\u0022part_III__sec_14\u0022\u003E\u003Ch3\u003E14. Staff of \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_14__term_1\u0022 id=\u0022part_III__sec_14__term_1\u0022\u003ETrust\u003C\/span\u003E\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_14__p_1\u0022 id=\u0022part_III__sec_14__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_14__p_1__term_1\u0022 id=\u0022part_III__sec_14__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall, on such terms and conditions as may be determined in the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_III__sec_14__p_1__term_2\u0022 id=\u0022part_III__sec_14__p_1__term_2\u0022\u003Eoperational manual\u003C\/span\u003E of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_14__p_1__term_3\u0022 id=\u0022part_III__sec_14__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E, employ such persons as may be necessary in the performance of functions of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_14__p_1__term_4\u0022 id=\u0022part_III__sec_14__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E, subject to the budgetary and other restrictions\u003Cins\u003E prescribed by regulations\u003C\/ins\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_14__p_2\u0022 id=\u0022part_III__sec_14__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[section 14 amended by section 14 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_14__p_2__ref_1\u0022 id=\u0022part_III__sec_14__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_15\u0022 data-eid=\u0022part_III__sec_15\u0022\u003E\u003Ch3\u003E15. Powers and functions of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_15__term_1\u0022 id=\u0022part_III__sec_15__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003EBoard\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_15__subsec_1\u0022 data-eid=\u0022part_III__sec_15__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_1\u0022 id=\u0022part_III__sec_15__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_1__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall\u003Cins\u003E, as soon as practicable after the first meeting of the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_15__subsec_1__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003E but not later than 1 year from the commencement of this Act,\u003C\/ins\u003E cause the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_15__subsec_1__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_1__term_3\u0022 id=\u0022part_III__sec_15__subsec_1__p_1__term_3\u0022\u003ETrust\u003C\/span\u003E to take all necessary steps to enter into the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-debt_swap_transaction\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_1__term_3\u0022 id=\u0022part_III__sec_15__subsec_1__p_1__term_3\u0022\u003Edebt swap transaction\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-debt_swap_transaction\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_1__term_4\u0022 id=\u0022part_III__sec_15__subsec_1__p_1__term_4\u0022\u003Edebt swap transaction\u003C\/span\u003E in accordance with this Act.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_2\u0022 id=\u0022part_III__sec_15__subsec_1__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_15__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_15__subsec_1\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_2__ref_1\u0022 id=\u0022part_III__sec_15__subsec_1__p_2__ref_1\u0022\u003E(1)\u003C\/a\u003E amended by section 15(a) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_15__subsec_1__p_2__ref_2\u0022 id=\u0022part_III__sec_15__subsec_1__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_15__subsec_2\u0022 data-eid=\u0022part_III__sec_15__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__intro__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__intro__p_1\u0022\u003EWithout prejudice to subsection \u003Ca data-href=\u0022#part_III__sec_15__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_15__subsec_1\u0022 data-eid=\u0022part_III__sec_15__subsec_2__intro__p_1__ref_1\u0022 id=\u0022part_III__sec_15__subsec_2__intro__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_15__subsec_2__intro__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_2__intro__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall have powers to\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_15__subsec_2__para_a\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_a__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_a__p_1\u0022\u003Eamend, repeal or replace any agreements related to the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_transaction\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_a__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_a__p_1__term_1\u0022\u003Edebt swap transaction\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_15__subsec_2__para_b\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_b__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_b__p_1\u0022\u003Eadopt, amend or repeal the rules of procedure, \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_b__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_b__p_1__term_1\u0022\u003Eoperational manual\u003C\/span\u003E and \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_b__p_1__term_2\u0022 id=\u0022part_III__sec_15__subsec_2__para_b__p_1__term_2\u0022\u003Einvestment guidelines\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_15__subsec_2__para_c\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_c__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_c__p_1\u0022\u003Eperform such other functions as may necessary or expedient\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_15__subsec_2__para_d\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_d__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_d__p_1\u0022\u003Ereceive and approve projects concerning the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_d__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_d__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E for consideration;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_15__subsec_2__para_e\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_e\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(e)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_e__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_e__p_1\u0022\u003Eadopt, amend or repeal the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_e__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_e__p_1__term_1\u0022\u003Eoperational manual\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_15__subsec_2__para_f\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_f\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(f)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_f__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_f__p_1\u0022\u003Eadopt, amend or repeal the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_f__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_f__p_1__term_1\u0022\u003Einvestment guidelines\u003C\/span\u003E of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_f__p_1__term_2\u0022 id=\u0022part_III__sec_15__subsec_2__para_f__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_15__subsec_2__para_g\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_g\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(g)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_g__p_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_g__p_1\u0022\u003Eappoint or replace the investment manager of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_15__subsec_2__para_g__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_2__para_g__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_15__subsec_3\u0022 data-eid=\u0022part_III__sec_15__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_1\u0022 id=\u0022part_III__sec_15__subsec_3__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_1__term_1\u0022 id=\u0022part_III__sec_15__subsec_3__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E may\u003Cins\u003E, subject to such restriction as may be prescribed by regulations,\u003C\/ins\u003E delegate in writing any of its powers or functions under this Act to a \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_1__term_2\u0022 id=\u0022part_III__sec_15__subsec_3__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E, \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_1__term_3\u0022 id=\u0022part_III__sec_15__subsec_3__p_1__term_3\u0022\u003EChief Executive Officer\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_1__term_2\u0022 id=\u0022part_III__sec_15__subsec_3__p_1__term_2\u0022\u003EChief Executive Officer\u003C\/span\u003E or any committee.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_2\u0022 id=\u0022part_III__sec_15__subsec_3__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_15__subsec_3\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_15__subsec_3\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_2__ref_1\u0022 id=\u0022part_III__sec_15__subsec_3__p_2__ref_1\u0022\u003E(3)\u003C\/a\u003E amended by section 15(b) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_15__subsec_3__p_2__ref_2\u0022 id=\u0022part_III__sec_15__subsec_3__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_16\u0022 data-eid=\u0022part_III__sec_16\u0022\u003E\u003Ch3\u003E16. \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_16__term_1\u0022 id=\u0022part_III__sec_16__term_1\u0022\u003EBoard\u003C\/span\u003E to be trustee\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_16__p_1\u0022 id=\u0022part_III__sec_16__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_16__p_1__term_1\u0022 id=\u0022part_III__sec_16__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall be the trustee of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_16__p_1__term_2\u0022 id=\u0022part_III__sec_16__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E and each \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_16__p_1__term_3\u0022 id=\u0022part_III__sec_16__p_1__term_3\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_16__p_1__term_4\u0022 id=\u0022part_III__sec_16__p_1__term_4\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_16__p_1__term_3\u0022 id=\u0022part_III__sec_16__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E stands in a fiduciary relationship toward the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_16__p_1__term_5\u0022 id=\u0022part_III__sec_16__p_1__term_5\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_16__p_1__term_4\u0022 id=\u0022part_III__sec_16__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E and shall discharge his or her duties in good faith.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_17\u0022 data-eid=\u0022part_III__sec_17\u0022\u003E\u003Ch3\u003E17. Liabilities of Directors of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_17__term_1\u0022 id=\u0022part_III__sec_17__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003EBoard\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_17__subsec_1\u0022 data-eid=\u0022part_III__sec_17__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1\u0022 id=\u0022part_III__sec_17__subsec_1__p_1\u0022\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003ENo action shall lie or prosecution shall be brought, instituted or maintained in any court against an\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Ci class=\u0022del akn-i\u0022\u003Eex officio\u003C\/i\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, a\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__term_3\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__term_3\u0022\u003EChief Executive Officer\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, any staff of\u003C\/del\u003E\u003Cins\u003EA Director, \u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__term_1\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__term_1\u0022\u003EChief Executive Officer\u003C\/span\u003E\u003Cins\u003E or other employees of the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__term_2\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003E shall not be personally liable to\u003C\/ins\u003E the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__term_4\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__term_3\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__term_3\u0022\u003ETrust\u003C\/span\u003E or a\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;member of a committee established under section\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Ca data-href=\u0022#part_III__sec_13\u0022 class=\u0022del akn-ref\u0022 href=\u0022#part_III__sec_13\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_1__ref_1\u0022 id=\u0022part_III__sec_17__subsec_1__p_1__ref_1\u0022\u003E13\u003C\/a\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, if the act was done in good faith and in a reasonable belief that it was necessary for the purpose intended to be served by it and for the carrying into effect the provisions of this Act\u003C\/del\u003E\u003Cins\u003Eny other person or entity for any action taken or omitted to be taken in good faith\u003C\/ins\u003E\u003C\/span\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_2\u0022 id=\u0022part_III__sec_17__subsec_1__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_III__sec_17__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_17__subsec_1\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_2__ref_1\u0022 id=\u0022part_III__sec_17__subsec_1__p_2__ref_1\u0022\u003E(1)\u003C\/a\u003E substituted by section 16 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_17__subsec_1__p_2__ref_2\u0022 id=\u0022part_III__sec_17__subsec_1__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_III__sec_17__subsec_2\u0022 data-eid=\u0022part_III__sec_17__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_17__subsec_2__intro__p_1\u0022 id=\u0022part_III__sec_17__subsec_2__intro__p_1\u0022\u003ESubsection \u003Ca data-href=\u0022#part_III__sec_17__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_17__subsec_1\u0022 data-eid=\u0022part_III__sec_17__subsec_2__intro__p_1__ref_1\u0022 id=\u0022part_III__sec_17__subsec_2__intro__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E shall not apply to any action\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_17__subsec_2__para_a\u0022 data-eid=\u0022part_III__sec_17__subsec_2__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_17__subsec_2__para_a__p_1\u0022 id=\u0022part_III__sec_17__subsec_2__para_a__p_1\u0022\u003Etaken or omitted to be taken in bad faith or which constitutes fraud or willful misconduct; or\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_17__subsec_2__para_b\u0022 data-eid=\u0022part_III__sec_17__subsec_2__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_17__subsec_2__para_b__p_1\u0022 id=\u0022part_III__sec_17__subsec_2__para_b__p_1\u0022\u003Efrom which the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_17__subsec_2__para_b__p_1__term_1\u0022 id=\u0022part_III__sec_17__subsec_2__para_b__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E, officer or any connected party derived any financial or other personal benefit not authorised under this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_18\u0022 data-eid=\u0022part_III__sec_18\u0022\u003E\u003Ch3\u003E18. Disclosure of interest\u003C\/h3\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_18__intro__p_1\u0022 id=\u0022part_III__sec_18__intro__p_1\u0022\u003EA\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003En\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Ci class=\u0022del akn-i\u0022\u003Eex officio\u003C\/i\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_18__intro__p_1__term_1\u0022 id=\u0022part_III__sec_18__intro__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E, a\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_18__intro__p_1__term_2\u0022 id=\u0022part_III__sec_18__intro__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003E Director or the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_18__intro__p_1__term_1\u0022 id=\u0022part_III__sec_18__intro__p_1__term_1\u0022\u003EChief Executive Officer\u003C\/span\u003E o\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Er\u003C\/del\u003E\u003Cins\u003Ef\u003C\/ins\u003E\u003C\/span\u003E the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_III__sec_18__intro__p_1__term_3\u0022 id=\u0022part_III__sec_18__intro__p_1__term_3\u0022\u003EChief Executive Officer\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_18__intro__p_1__term_2\u0022 id=\u0022part_III__sec_18__intro__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E, who has direct or indirect interest in any matter to be decided by the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_18__intro__p_1__term_4\u0022 id=\u0022part_III__sec_18__intro__p_1__term_4\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_18__intro__p_1__term_3\u0022 id=\u0022part_III__sec_18__intro__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E, shall\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_18__para_a\u0022 data-eid=\u0022part_III__sec_18__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_18__para_a__p_1\u0022 id=\u0022part_III__sec_18__para_a__p_1\u0022\u003Edisclose the nature of such interest at the meeting of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_18__para_a__p_1__term_1\u0022 id=\u0022part_III__sec_18__para_a__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_18__para_b\u0022 data-eid=\u0022part_III__sec_18__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_18__para_b__p_1\u0022 id=\u0022part_III__sec_18__para_b__p_1\u0022\u003Enot take part in any deliberation or decision in respect of that matter.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022del akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_18__wrapup__p_1\u0022 id=\u0022part_III__sec_18__wrapup__p_1\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[section 18 amended by section 17 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_III__sec_18__wrapup__p_1__ref_1\u0022 id=\u0022part_III__sec_18__wrapup__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_19\u0022 data-eid=\u0022part_III__sec_19\u0022\u003E\u003Ch3\u003E19. Removal of Directors of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_19__term_1\u0022 id=\u0022part_III__sec_19__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003EBoard\u003C\/ins\u003E\u003C\/h3\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_19__intro__p_1\u0022 id=\u0022part_III__sec_19__intro__p_1\u0022\u003EA \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_19__intro__p_1__term_1\u0022 id=\u0022part_III__sec_19__intro__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E may, subject to a \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_III__sec_19__intro__p_1__term_2\u0022 id=\u0022part_III__sec_19__intro__p_1__term_2\u0022\u003Especial majority vote\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_III__sec_19__intro__p_1__term_1\u0022 id=\u0022part_III__sec_19__intro__p_1__term_1\u0022\u003Especial majority vote\u003C\/span\u003E, be removed from office, who\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_19__para_a\u0022 data-eid=\u0022part_III__sec_19__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_19__para_a__p_1\u0022 id=\u0022part_III__sec_19__para_a__p_1\u0022\u003Ehas been found guilty of any misconduct, default or breach of trust in the discharge of any duties;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_19__para_b\u0022 data-eid=\u0022part_III__sec_19__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_19__para_b__p_1\u0022 id=\u0022part_III__sec_19__para_b__p_1\u0022\u003Eis convicted of an offence; or\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_III__sec_19__para_c\u0022 data-eid=\u0022part_III__sec_19__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_19__para_c__p_1\u0022 id=\u0022part_III__sec_19__para_c__p_1\u0022\u003Eis mentally or physically incapable of carrying out the functions under this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_III__sec_20\u0022 data-eid=\u0022part_III__sec_20\u0022\u003E\u003Ch3\u003E20. Remuneration of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_20__term_1\u0022 id=\u0022part_III__sec_20__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_III__sec_20__p_1\u0022 id=\u0022part_III__sec_20__p_1\u0022\u003EThe Directors shall serve on a voluntary basis and shall not receive any remuneration or allowances for holding office as Directors, provided a \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_20__p_1__term_1\u0022 id=\u0022part_III__sec_20__p_1__term_1\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E may be paid such reasonable expenses incurred by the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Director\u0022 data-eid=\u0022part_III__sec_20__p_1__term_2\u0022 id=\u0022part_III__sec_20__p_1__term_2\u0022\u003EDirector\u003C\/span\u003E\u003Cins\u003EDirector\u003C\/ins\u003E in connection with the affairs of the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_20__p_1__term_3\u0022 id=\u0022part_III__sec_20__p_1__term_3\u0022\u003ETrust\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_III__sec_20__p_1__term_1\u0022 id=\u0022part_III__sec_20__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E, as may be determined in the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_III__sec_20__p_1__term_4\u0022 id=\u0022part_III__sec_20__p_1__term_4\u0022\u003Eoperational manual\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_III__sec_20__p_1__term_2\u0022 id=\u0022part_III__sec_20__p_1__term_2\u0022\u003Eoperational manual\u003C\/span\u003E by the \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_20__p_1__term_5\u0022 id=\u0022part_III__sec_20__p_1__term_5\u0022\u003EBoard\u003C\/span\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_III__sec_20__p_1__term_3\u0022 id=\u0022part_III__sec_20__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-part\u0022 id=\u0022part_IV\u0022 data-eid=\u0022part_IV\u0022\u003E\u003Ch2\u003EPart IV \u0026#x2013; Finance, accounts and audit\u003C\/h2\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_21\u0022 data-eid=\u0022part_IV__sec_21\u0022\u003E\u003Ch3\u003E21. Assets of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__term_1\u0022 id=\u0022part_IV__sec_21__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003ETrust\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_1\u0022 data-eid=\u0022part_IV__sec_21__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_1__p_1\u0022 id=\u0022part_IV__sec_21__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_1__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_1__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall, as long as it receives the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_21__subsec_1__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_1__p_1__term_2\u0022\u003Edebt swap incomes\u003C\/span\u003E, each year use at least: 35 percent of the annual payments received from the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_21__subsec_1__p_1__term_3\u0022 id=\u0022part_IV__sec_21__subsec_1__p_1__term_3\u0022\u003Edebt swap incomes\u003C\/span\u003E to deposit in the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_1__p_1__term_4\u0022 id=\u0022part_IV__sec_21__subsec_1__p_1__term_4\u0022\u003EEndowment Fund\u003C\/span\u003E in order to generate income by investing the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_1__p_1__term_5\u0022 id=\u0022part_IV__sec_21__subsec_1__p_1__term_5\u0022\u003EEndowment Fund\u003C\/span\u003E in such appropriate manner as the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_21__subsec_1__p_1__term_6\u0022 id=\u0022part_IV__sec_21__subsec_1__p_1__term_6\u0022\u003EBoard\u003C\/span\u003E may determine.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_2\u0022 data-eid=\u0022part_IV__sec_21__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_2__p_1\u0022 id=\u0022part_IV__sec_21__subsec_2__p_1\u0022\u003EUntil such time as the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_21__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_2__p_1__term_1\u0022\u003Edebt swap incomes\u003C\/span\u003E terminates or a period of 20 years, whichever comes later, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_2__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_2__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E shall not distribute or use in any way any of the principal of, or income generated by, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_2__p_1__term_3\u0022 id=\u0022part_IV__sec_21__subsec_2__p_1__term_3\u0022\u003EEndowment Fund\u003C\/span\u003E, except in the eventuality that the funds being paid by the government does not suffice to reservice the debt.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_3\u0022 data-eid=\u0022part_IV__sec_21__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_3__p_1\u0022 id=\u0022part_IV__sec_21__subsec_3__p_1\u0022\u003EAfter the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_21__subsec_3__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_3__p_1__term_1\u0022\u003Edebt swap incomes\u003C\/span\u003E terminate or a period of 20 years, whichever comes later, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_3__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_3__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E may, subject to subsection \u003Ca data-href=\u0022#part_IV__sec_21__subsec_5\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_21__subsec_5\u0022 data-eid=\u0022part_IV__sec_21__subsec_3__p_1__ref_1\u0022 id=\u0022part_IV__sec_21__subsec_3__p_1__ref_1\u0022\u003E(5)\u003C\/a\u003E, periodically distribute income generated by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_3__p_1__term_3\u0022 id=\u0022part_IV__sec_21__subsec_3__p_1__term_3\u0022\u003EEndowment Fund\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_4\u0022 data-eid=\u0022part_IV__sec_21__subsec_4\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(4)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_4__p_1\u0022 id=\u0022part_IV__sec_21__subsec_4__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_4__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_4__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall not withdraw, borrow from, borrow against, or dispose of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_4__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_4__p_1__term_2\u0022\u003EEndowment Fund\u003C\/span\u003E or the income generated by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_4__p_1__term_3\u0022 id=\u0022part_IV__sec_21__subsec_4__p_1__term_3\u0022\u003EEndowment Fund\u003C\/span\u003E other than in accordance with this Act, regulations, \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_IV__sec_21__subsec_4__p_1__term_4\u0022 id=\u0022part_IV__sec_21__subsec_4__p_1__term_4\u0022\u003Eoperational manual\u003C\/span\u003E and the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-annual_workplan\u0022 data-eid=\u0022part_IV__sec_21__subsec_4__p_1__term_5\u0022 id=\u0022part_IV__sec_21__subsec_4__p_1__term_5\u0022\u003Eannual workplan\u003C\/span\u003E made thereunder.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_5\u0022 data-eid=\u0022part_IV__sec_21__subsec_5\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(5)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_5__p_1\u0022 id=\u0022part_IV__sec_21__subsec_5__p_1\u0022\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003ENo\u003C\/del\u003E\u003Cins\u003EAny\u003C\/ins\u003E\u003C\/span\u003E mon\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Ei\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003Ee\u003Cins\u003Ey\u003C\/ins\u003Es shall \u003Cins\u003Enot \u003C\/ins\u003Ebe paid out of the assets of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_5__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_5__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E, except with the authority, and in accordance with any generator special direction, of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_21__subsec_5__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_5__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_5__p_2\u0022 id=\u0022part_IV__sec_21__subsec_5__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_IV__sec_21__subsec_5\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_21__subsec_5\u0022 data-eid=\u0022part_IV__sec_21__subsec_5__p_2__ref_1\u0022 id=\u0022part_IV__sec_21__subsec_5__p_2__ref_1\u0022\u003E(5)\u003C\/a\u003E amended by section 18(a) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_IV__sec_21__subsec_5__p_2__ref_2\u0022 id=\u0022part_IV__sec_21__subsec_5__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_6\u0022 data-eid=\u0022part_IV__sec_21__subsec_6\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(6)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_6__p_1\u0022 id=\u0022part_IV__sec_21__subsec_6__p_1\u0022\u003EThe assets of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_6__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_6__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall, regardless of the source of the assets, be considered in all respects to be separate from the consolidated revenues of the Government, and shall not be subject to any law governing public or government funds, except otherwise provided in this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_7\u0022 data-eid=\u0022part_IV__sec_21__subsec_7\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(7)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_7__p_1\u0022 id=\u0022part_IV__sec_21__subsec_7__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_7__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_7__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E may transfer funds of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_7__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_7__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E into and out of Seychelles, maintain foreign currency account and deal with in any foreign currency in accordance with \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Eregulations\u003C\/del\u003E\u003Cins\u003Ethe Public Finance Management Act, 2012\u003C\/ins\u003E\u003C\/span\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_7__p_2\u0022 id=\u0022part_IV__sec_21__subsec_7__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_IV__sec_21__subsec_7\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_21__subsec_7\u0022 data-eid=\u0022part_IV__sec_21__subsec_7__p_2__ref_1\u0022 id=\u0022part_IV__sec_21__subsec_7__p_2__ref_1\u0022\u003E(7)\u003C\/a\u003E amended by section 18(b) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_IV__sec_21__subsec_7__p_2__ref_2\u0022 id=\u0022part_IV__sec_21__subsec_7__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_8\u0022 data-eid=\u0022part_IV__sec_21__subsec_8\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(8)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_8__p_1\u0022 id=\u0022part_IV__sec_21__subsec_8__p_1\u0022\u003EThe income of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_8__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_8__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E from any source other than the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_8__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_8__p_1__term_2\u0022\u003EEndowment Fund\u003C\/span\u003E, may be disbursed as grants, used to cover the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-administrative_expenses\u0022 data-eid=\u0022part_IV__sec_21__subsec_8__p_1__term_3\u0022 id=\u0022part_IV__sec_21__subsec_8__p_1__term_3\u0022\u003Eadministrative expenses\u003C\/span\u003E of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_8__p_1__term_4\u0022 id=\u0022part_IV__sec_21__subsec_8__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E and operating costs, as set forth by or under this Act, or invested in accordance with section \u003Ca data-href=\u0022#part_IV__sec_23\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_23\u0022 data-eid=\u0022part_IV__sec_21__subsec_8__p_1__ref_1\u0022 id=\u0022part_IV__sec_21__subsec_8__p_1__ref_1\u0022\u003E23\u003C\/a\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_9\u0022 data-eid=\u0022part_IV__sec_21__subsec_9\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(9)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_9__p_1\u0022 id=\u0022part_IV__sec_21__subsec_9__p_1\u0022\u003EUpon the termination of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_21__subsec_9__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_9__p_1__term_1\u0022\u003Edebt swap incomes\u003C\/span\u003E or a period of 20 years, whichever comes later, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_21__subsec_9__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_9__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E may, at the end of each \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_IV__sec_21__subsec_9__p_1__term_3\u0022 id=\u0022part_IV__sec_21__subsec_9__p_1__term_3\u0022\u003Efiscal year\u003C\/span\u003E, cause up to 5 percent of the average net asset value of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_9__p_1__term_4\u0022 id=\u0022part_IV__sec_21__subsec_9__p_1__term_4\u0022\u003EEndowment Fund\u003C\/span\u003E over the preceding 3 years to be disbursed as grants or used to cover the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-administrative_expenses\u0022 data-eid=\u0022part_IV__sec_21__subsec_9__p_1__term_5\u0022 id=\u0022part_IV__sec_21__subsec_9__p_1__term_5\u0022\u003Eadministrative expenses\u003C\/span\u003E and operating costs of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_9__p_1__term_6\u0022 id=\u0022part_IV__sec_21__subsec_9__p_1__term_6\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_21__subsec_10\u0022 data-eid=\u0022part_IV__sec_21__subsec_10\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(10)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__intro__p_1\u0022 id=\u0022part_IV__sec_21__subsec_10__intro__p_1\u0022\u003ENotwithstanding anything in this Act\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_21__subsec_10__para_a\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_a__p_1\u0022 id=\u0022part_IV__sec_21__subsec_10__para_a__p_1\u0022\u003Ethe assets or income of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_a__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_10__para_a__p_1__term_1\u0022\u003EEndowment Fund\u003C\/span\u003E shall not be dispersed or used to cover any expenses or other costs of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_a__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_10__para_a__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E until such time as the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_a__p_1__term_3\u0022 id=\u0022part_IV__sec_21__subsec_10__para_a__p_1__term_3\u0022\u003Edebt swap incomes\u003C\/span\u003E has terminated or a period of 20 years, whichever comes later; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_21__subsec_10__para_b\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_b__p_1\u0022 id=\u0022part_IV__sec_21__subsec_10__para_b__p_1\u0022\u003Eat no time any income from the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_b__p_1__term_1\u0022 id=\u0022part_IV__sec_21__subsec_10__para_b__p_1__term_1\u0022\u003EEndowment Fund\u003C\/span\u003E shall be transferred to a sinking fund or Revolving Fund other than as part of a grant made by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_21__subsec_10__para_b__p_1__term_2\u0022 id=\u0022part_IV__sec_21__subsec_10__para_b__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E in accordance with this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_22\u0022 data-eid=\u0022part_IV__sec_22\u0022\u003E\u003Ch3\u003E22. Revenue of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_22__term_1\u0022 id=\u0022part_IV__sec_22__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003ETrust\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_22__subsec_1\u0022 data-eid=\u0022part_IV__sec_22__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__intro__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__intro__p_1\u0022\u003EThe revenues of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__intro__p_1__term_1\u0022 id=\u0022part_IV__sec_22__subsec_1__intro__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E may be generated from the following sources\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_a\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_a__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_a__p_1\u0022\u003Ethe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_transaction\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_a__p_1__term_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_a__p_1__term_1\u0022\u003Edebt swap transaction\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_b\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_b__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_b__p_1\u0022\u003Eincome generated from the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_b__p_1__term_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_b__p_1__term_1\u0022\u003EEndowment Fund\u003C\/span\u003E and any other funding sources;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_c\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_c__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_c__p_1\u0022\u003Egifts and bequests;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_d\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_d__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_d__p_1\u0022\u003Epublic and private donations from national and international sources;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_e\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_e\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(e)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_e__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_e__p_1\u0022\u003Ethe budgetary allocations made by the Government by an Appropriation Act;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_f\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_f\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(f)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_f__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_f__p_1\u0022\u003Eany fees, levies, taxes and fines specifically allocated to the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_f__p_1__term_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_f__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E by or under any written law;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_g\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_g\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(g)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_g__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_g__p_1\u0022\u003Erevenues from investments;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_h\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_h\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(h)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_h__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_h__p_1\u0022\u003Eproceeds from the sale, lease or transfer of tangible and intangible property;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_i\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_i\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(i)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_i__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_i__p_1\u0022\u003Eproceeds from services provided by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_i__p_1__term_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_i__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_22__subsec_1__para_j\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_j\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(j)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_j__p_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_j__p_1\u0022\u003Eany other sources of revenue deemed appropriate by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_22__subsec_1__para_j__p_1__term_1\u0022 id=\u0022part_IV__sec_22__subsec_1__para_j__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_22__subsec_2\u0022 data-eid=\u0022part_IV__sec_22__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_22__subsec_2__p_1\u0022 id=\u0022part_IV__sec_22__subsec_2__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_22__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_22__subsec_2__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E may reject any gifts, bequests, donations, revenues, proceeds or incomes which may be offered to or otherwise accrue to the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_22__subsec_2__p_1__term_2\u0022 id=\u0022part_IV__sec_22__subsec_2__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_23\u0022 data-eid=\u0022part_IV__sec_23\u0022\u003E\u003Ch3\u003E23. Eligibility \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Efor a gra\u003C\/del\u003E\u003Cins\u003Eof payme\u003C\/ins\u003E\u003C\/span\u003Ent\u003Cins\u003Es\u003C\/ins\u003E\u003C\/h3\u003E\u003Cspan class=\u0022ins akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__intro__p_1\u0022 id=\u0022part_IV__sec_23__intro__p_1\u0022\u003ESubject to the requirements provided in the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_IV__sec_23__intro__p_1__term_1\u0022 id=\u0022part_IV__sec_23__intro__p_1__term_1\u0022\u003Eoperational manual\u003C\/span\u003E, an agency shall be eligible for a payment from the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__intro__p_1__term_2\u0022 id=\u0022part_IV__sec_23__intro__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E, if\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_IV__sec_23__para_a\u0022 id=\u0022part_IV__sec_23__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_a__p_1\u0022 id=\u0022part_IV__sec_23__para_a__p_1\u0022\u003Eit has continuously maintained for at least 1 year prior to the date of application active operations in the Seychelles consistent with the purposes of the grant and the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__para_a__p_1__term_1\u0022 id=\u0022part_IV__sec_23__para_a__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_IV__sec_23__para_b\u0022 id=\u0022part_IV__sec_23__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_b__p_1\u0022 id=\u0022part_IV__sec_23__para_b__p_1\u0022\u003Eit is an agency of the Government or a non-governmental organisation;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_IV__sec_23__para_c\u0022 id=\u0022part_IV__sec_23__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_c__p_1\u0022 id=\u0022part_IV__sec_23__para_c__p_1\u0022\u003Ethe purpose of the grant and its intended use is consistent with the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__para_c__p_1__term_1\u0022 id=\u0022part_IV__sec_23__para_c__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_IV__sec_23__para_d\u0022 id=\u0022part_IV__sec_23__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_d__intro__p_1\u0022 id=\u0022part_IV__sec_23__para_d__intro__p_1\u0022\u003Ethe grant does not, directly or indirectly, be used to pay for\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-subparagraph\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_i\u0022 id=\u0022part_IV__sec_23__para_d__subpara_i\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(i)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_i__p_1\u0022 id=\u0022part_IV__sec_23__para_d__subpara_i__p_1\u0022\u003Eoperating or administrative costs of ministries, departments or agencies of the Government or any other country;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subparagraph\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_ii\u0022 id=\u0022part_IV__sec_23__para_d__subpara_ii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(ii)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_ii__p_1\u0022 id=\u0022part_IV__sec_23__para_d__subpara_ii__p_1\u0022\u003Esalaries of executive officers and core staff of non-governmental organisations, except as such salaries relate to services performed by such persons on behalf of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_ii__p_1__term_1\u0022 id=\u0022part_IV__sec_23__para_d__subpara_ii__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subparagraph\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_iii\u0022 id=\u0022part_IV__sec_23__para_d__subpara_iii\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(iii)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_iii__p_1\u0022 id=\u0022part_IV__sec_23__para_d__subpara_iii__p_1\u0022\u003Eactivities relating to the extraction of non-renewable natural resources; or\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subparagraph\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_iv\u0022 id=\u0022part_IV__sec_23__para_d__subpara_iv\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(iv)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_iv__p_1\u0022 id=\u0022part_IV__sec_23__para_d__subpara_iv__p_1\u0022\u003Eany other use not consistent with the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__para_d__subpara_iv__p_1__term_1\u0022 id=\u0022part_IV__sec_23__para_d__subpara_iv__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_IV__sec_23__para_e\u0022 id=\u0022part_IV__sec_23__para_e\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(e)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__para_e__p_1\u0022 id=\u0022part_IV__sec_23__para_e__p_1\u0022\u003Eit satisfies such other criteria, priorities and procedures for grants prescribed by rules.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-subsection\u0022 id=\u0022part_IV__sec_23__subsec_1\u0022 data-eid=\u0022part_IV__sec_23__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__intro__p_1\u0022 id=\u0022part_IV__sec_23__subsec_1__intro__p_1\u0022\u003ESubject to this Act and the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__intro__p_1__term_1\u0022 id=\u0022part_IV__sec_23__subsec_1__intro__p_1__term_1\u0022\u003Eoperational manual\u003C\/span\u003E, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__intro__p_1__term_2\u0022 id=\u0022part_IV__sec_23__subsec_1__intro__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E may disburse the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__intro__p_1__term_3\u0022 id=\u0022part_IV__sec_23__subsec_1__intro__p_1__term_3\u0022\u003Edebt swap incomes\u003C\/span\u003E or monies from any other fund or source of funding, as a grant, to \u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_23__subsec_1__para_a\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_a__p_1\u0022 id=\u0022part_IV__sec_23__subsec_1__para_a__p_1\u0022\u003Ea citizen of Seychelles;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_23__subsec_1__para_b\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_b__p_1\u0022 id=\u0022part_IV__sec_23__subsec_1__para_b__p_1\u0022\u003Ea Ministry, Department or an Agency of the Government;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_23__subsec_1__para_c\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_c__p_1\u0022 id=\u0022part_IV__sec_23__subsec_1__para_c__p_1\u0022\u003Ea \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-non_governmental_organization\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_c__p_1__term_1\u0022 id=\u0022part_IV__sec_23__subsec_1__para_c__p_1__term_1\u0022\u003Enon-governmental organization\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_23__subsec_1__para_d\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_d__p_1\u0022 id=\u0022part_IV__sec_23__subsec_1__para_d__p_1\u0022\u003Eany other person or classification of persons that the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__para_d__p_1__term_1\u0022 id=\u0022part_IV__sec_23__subsec_1__para_d__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E may determine and notify by notice published in the \u003Ci class=\u0022akn-i\u0022\u003EGazette\u003C\/i\u003E,\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__wrapup__p_1\u0022 id=\u0022part_IV__sec_23__subsec_1__wrapup__p_1\u0022\u003Eif the person or entity specified in paragraphs \u003Ca data-href=\u0022#part_IV__sec_23__subsec_1__para_a\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_23__subsec_1__para_a\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__wrapup__p_1__ref_1\u0022 id=\u0022part_IV__sec_23__subsec_1__wrapup__p_1__ref_1\u0022\u003E(a)\u003C\/a\u003E to \u003Ca data-href=\u0022#part_IV__sec_23__subsec_1__para_d\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_23__subsec_1__para_d\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__wrapup__p_1__ref_2\u0022 id=\u0022part_IV__sec_23__subsec_1__wrapup__p_1__ref_2\u0022\u003E(d)\u003C\/a\u003E satisfy the criteria, priorities and procedures for the grant as determined by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_23__subsec_1__wrapup__p_1__term_1\u0022 id=\u0022part_IV__sec_23__subsec_1__wrapup__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-subsection\u0022 id=\u0022part_IV__sec_23__subsec_2\u0022 data-eid=\u0022part_IV__sec_23__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_2__p_1\u0022 id=\u0022part_IV__sec_23__subsec_2__p_1\u0022\u003ESubject to subsection \u003Ca data-href=\u0022#part_IV__sec_23__subsec_3\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_23__subsec_3\u0022 data-eid=\u0022part_IV__sec_23__subsec_2__p_1__ref_1\u0022 id=\u0022part_IV__sec_23__subsec_2__p_1__ref_1\u0022\u003E(3)\u003C\/a\u003E, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_23__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_23__subsec_2__p_1__term_1\u0022\u003Edebt swap incomes\u003C\/span\u003E or monies from any fund or source of funding may be disbursed as a grant to be used to undertake any activity, approved by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_23__subsec_2__p_1__term_2\u0022 id=\u0022part_IV__sec_23__subsec_2__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E, which is consistent with the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__subsec_2__p_1__term_3\u0022 id=\u0022part_IV__sec_23__subsec_2__p_1__term_3\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-subsection\u0022 id=\u0022part_IV__sec_23__subsec_3\u0022 data-eid=\u0022part_IV__sec_23__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_3__p_1\u0022 id=\u0022part_IV__sec_23__subsec_3__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_23__subsec_3__p_1__term_1\u0022 id=\u0022part_IV__sec_23__subsec_3__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall not disburse the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_23__subsec_3__p_1__term_2\u0022 id=\u0022part_IV__sec_23__subsec_3__p_1__term_2\u0022\u003Edebt swap incomes\u003C\/span\u003E or monies from any other fund or source of funding, as a grant, to undertake any activity relating to the extraction of non-renewable natural resources.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-subsection\u0022 id=\u0022part_IV__sec_23__subsec_4\u0022 data-eid=\u0022part_IV__sec_23__subsec_4\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(4)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__subsec_4__p_1\u0022 id=\u0022part_IV__sec_23__subsec_4__p_1\u0022\u003EFor the purposes of this section (1)(d), the word \u0026#x201C;person\u0026#x201D; shall be construed as including any company, partnership or other juridical person.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022del akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_23__wrapup__p_1\u0022 id=\u0022part_IV__sec_23__wrapup__p_1\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[section 23 substituted by section 19 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_IV__sec_23__wrapup__p_1__ref_1\u0022 id=\u0022part_IV__sec_23__wrapup__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_24\u0022 data-eid=\u0022part_IV__sec_24\u0022\u003E\u003Ch3\u003E24. Investment of assets of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_24__term_1\u0022 id=\u0022part_IV__sec_24__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003ETrust\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_24__subsec_1\u0022 data-eid=\u0022part_IV__sec_24__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_24__subsec_1__p_1\u0022 id=\u0022part_IV__sec_24__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_24__subsec_1__p_1__term_1\u0022 id=\u0022part_IV__sec_24__subsec_1__p_1__term_1\u0022\u003EEndowment Fund\u003C\/span\u003E and any other assets of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_24__subsec_1__p_1__term_2\u0022 id=\u0022part_IV__sec_24__subsec_1__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E shall be invested by an internationally recognised investment manager selected by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_24__subsec_1__p_1__term_3\u0022 id=\u0022part_IV__sec_24__subsec_1__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E through a transparent and competitive public tender process, subject to the approval of a \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_IV__sec_24__subsec_1__p_1__term_4\u0022 id=\u0022part_IV__sec_24__subsec_1__p_1__term_4\u0022\u003Especial majority vote\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_24__subsec_2\u0022 data-eid=\u0022part_IV__sec_24__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_24__subsec_2__p_1\u0022 id=\u0022part_IV__sec_24__subsec_2__p_1\u0022\u003EAll investments shall be made in accordance with the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_IV__sec_24__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_24__subsec_2__p_1__term_1\u0022\u003Eoperational manual\u003C\/span\u003E and \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_IV__sec_24__subsec_2__p_1__term_2\u0022 id=\u0022part_IV__sec_24__subsec_2__p_1__term_2\u0022\u003Einvestment guidelines\u003C\/span\u003E made by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_24__subsec_2__p_1__term_3\u0022 id=\u0022part_IV__sec_24__subsec_2__p_1__term_3\u0022\u003EBoard\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_24__subsec_3\u0022 data-eid=\u0022part_IV__sec_24__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_24__subsec_3__p_1\u0022 id=\u0022part_IV__sec_24__subsec_3__p_1\u0022\u003EAt the end of each \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_IV__sec_24__subsec_3__p_1__term_1\u0022 id=\u0022part_IV__sec_24__subsec_3__p_1__term_1\u0022\u003Efiscal year\u003C\/span\u003E, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_24__subsec_3__p_1__term_2\u0022 id=\u0022part_IV__sec_24__subsec_3__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E may cause all or a portion of unspent and unbudgeted funds, regardless of the source, to be invested in the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_24__subsec_3__p_1__term_3\u0022 id=\u0022part_IV__sec_24__subsec_3__p_1__term_3\u0022\u003EEndowment Fund\u003C\/span\u003E, which shall become part of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_24__subsec_3__p_1__term_4\u0022 id=\u0022part_IV__sec_24__subsec_3__p_1__term_4\u0022\u003EEndowment Fund\u003C\/span\u003E and be subject to all the restrictions applicable to the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_24__subsec_3__p_1__term_5\u0022 id=\u0022part_IV__sec_24__subsec_3__p_1__term_5\u0022\u003EEndowment Fund\u003C\/span\u003E setout by or under this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_24__subsec_4\u0022 data-eid=\u0022part_IV__sec_24__subsec_4\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(4)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_24__subsec_4__p_1\u0022 id=\u0022part_IV__sec_24__subsec_4__p_1\u0022\u003EAny portion of unspent and unbudgeted funds referred to in subsection \u003Ca data-href=\u0022#part_IV__sec_24__subsec_3\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_24__subsec_3\u0022 data-eid=\u0022part_IV__sec_24__subsec_4__p_1__ref_1\u0022 id=\u0022part_IV__sec_24__subsec_4__p_1__ref_1\u0022\u003E(3)\u003C\/a\u003E, which the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_24__subsec_4__p_1__term_1\u0022 id=\u0022part_IV__sec_24__subsec_4__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E does not invest in the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_IV__sec_24__subsec_4__p_1__term_2\u0022 id=\u0022part_IV__sec_24__subsec_4__p_1__term_2\u0022\u003EEndowment Fund\u003C\/span\u003E shall be deposited in an account in accordance with the bye-laws or otherwise used in a manner permitted under this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_25\u0022 data-eid=\u0022part_IV__sec_25\u0022\u003E\u003Ch3\u003E25. Annual workplan and \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-budget\u0022 data-eid=\u0022part_IV__sec_25__term_1\u0022 id=\u0022part_IV__sec_25__term_1\u0022\u003Ebudget\u003C\/span\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_25__subsec_1\u0022 data-eid=\u0022part_IV__sec_25__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_25__subsec_1__p_1\u0022 id=\u0022part_IV__sec_25__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_25__subsec_1__p_1__term_1\u0022 id=\u0022part_IV__sec_25__subsec_1__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall, in each \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_IV__sec_25__subsec_1__p_1__term_2\u0022 id=\u0022part_IV__sec_25__subsec_1__p_1__term_2\u0022\u003Efiscal year\u003C\/span\u003E, prepare and approve an \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-annual_workplan\u0022 data-eid=\u0022part_IV__sec_25__subsec_1__p_1__term_3\u0022 id=\u0022part_IV__sec_25__subsec_1__p_1__term_3\u0022\u003Eannual workplan\u003C\/span\u003E and a \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-budget\u0022 data-eid=\u0022part_IV__sec_25__subsec_1__p_1__term_4\u0022 id=\u0022part_IV__sec_25__subsec_1__p_1__term_4\u0022\u003Ebudget\u003C\/span\u003E in respect of the annual payments received from the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_25__subsec_1__p_1__term_5\u0022 id=\u0022part_IV__sec_25__subsec_1__p_1__term_5\u0022\u003Edebt swap incomes\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_25__subsec_2\u0022 data-eid=\u0022part_IV__sec_25__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_1\u0022 id=\u0022part_IV__sec_25__subsec_2__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_25__subsec_2__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall, within 30 days, submit the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-annual_workplan\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_1__term_2\u0022 id=\u0022part_IV__sec_25__subsec_2__p_1__term_2\u0022\u003Eannual workplan\u003C\/span\u003E and \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-budget\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_1__term_3\u0022 id=\u0022part_IV__sec_25__subsec_2__p_1__term_3\u0022\u003Ebudget\u003C\/span\u003E made under sub section (1) to the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_1__term_4\u0022 id=\u0022part_IV__sec_25__subsec_2__p_1__term_4\u0022\u003EMinister\u003C\/span\u003E\u003Cins\u003E who shall cause them to be laid before the National Assembly\u003C\/ins\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_2\u0022 id=\u0022part_IV__sec_25__subsec_2__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_IV__sec_25__subsec_2\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_25__subsec_2\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_2__ref_1\u0022 id=\u0022part_IV__sec_25__subsec_2__p_2__ref_1\u0022\u003E(2)\u003C\/a\u003E amended by section 20 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_IV__sec_25__subsec_2__p_2__ref_2\u0022 id=\u0022part_IV__sec_25__subsec_2__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_26\u0022 data-eid=\u0022part_IV__sec_26\u0022\u003E\u003Ch3\u003E26. Limit on \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-administrative_expenses\u0022 data-eid=\u0022part_IV__sec_26__term_1\u0022 id=\u0022part_IV__sec_26__term_1\u0022\u003Eadministrative expenses\u003C\/span\u003E\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_26__p_1\u0022 id=\u0022part_IV__sec_26__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_26__p_1__term_1\u0022 id=\u0022part_IV__sec_26__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E may, in each \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-fiscal_year\u0022 data-eid=\u0022part_IV__sec_26__p_1__term_2\u0022 id=\u0022part_IV__sec_26__p_1__term_2\u0022\u003Efiscal year\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E,\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E use\u003Cins\u003E,\u003C\/ins\u003E up to \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E30\u003C\/del\u003E\u003Cins\u003E25\u003C\/ins\u003E\u003C\/span\u003E percent of \u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003Ethe\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-debt_swap_incomes\u0022 data-eid=\u0022part_IV__sec_26__p_1__term_3\u0022 id=\u0022part_IV__sec_26__p_1__term_3\u0022\u003Edebt swap incomes\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;to meet the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-administrative_expenses\u0022 data-eid=\u0022part_IV__sec_26__p_1__term_4\u0022 id=\u0022part_IV__sec_26__p_1__term_4\u0022\u003Eadministrative expenses\u003C\/span\u003E\u003Cspan class=\u0022diff-pair\u0022\u003E\u003Cdel\u003E\u0026#xA0;of the\u0026#xA0;\u003C\/del\u003E\u003Cins\u003E\u0026#xA0;\u003C\/ins\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_26__p_1__term_5\u0022 id=\u0022part_IV__sec_26__p_1__term_5\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003Eits annual \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-budget\u0022 data-eid=\u0022part_IV__sec_26__p_1__term_3\u0022 id=\u0022part_IV__sec_26__p_1__term_3\u0022\u003Ebudget\u003C\/span\u003E\u003Cins\u003E referred to in section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_IV__sec_25__subsec_1\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_IV__sec_25__subsec_1\u0022 data-eid=\u0022part_IV__sec_26__p_1__ref_1\u0022 id=\u0022part_IV__sec_26__p_1__ref_1\u0022\u003E25(1)\u003C\/a\u003E\u003Cins\u003E, for a period of 2 fiscal years, and thereafter, not more than 15 percent of its annual revenue for meeting \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-administrative_expenses\u0022 data-eid=\u0022part_IV__sec_26__p_1__term_4\u0022 id=\u0022part_IV__sec_26__p_1__term_4\u0022\u003Eadministrative expenses\u003C\/span\u003E.\u003C\/span\u003E\u003Cspan class=\u0022del akn-p\u0022 data-eid=\u0022part_IV__sec_26__p_2\u0022 id=\u0022part_IV__sec_26__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[section 26 substituted by section 21 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_IV__sec_26__p_2__ref_1\u0022 id=\u0022part_IV__sec_26__p_2__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_27\u0022 data-eid=\u0022part_IV__sec_27\u0022\u003E\u003Ch3\u003E27. Accounts of trustee\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_27__subsec_1\u0022 data-eid=\u0022part_IV__sec_27__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27__subsec_1__p_1\u0022 id=\u0022part_IV__sec_27__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27__subsec_1__p_1__term_1\u0022 id=\u0022part_IV__sec_27__subsec_1__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall maintain proper accounts and other relevant records and prepare an income and expenditure statement in such form and in such manner as may be prescribed by regulations.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_27__subsec_2\u0022 data-eid=\u0022part_IV__sec_27__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27__subsec_2__p_1\u0022 id=\u0022part_IV__sec_27__subsec_2__p_1\u0022\u003EThe accounts of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_27__subsec_2__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall be audited by the Auditor General in accordance with Article 158 of the Constitution.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_27__subsec_3\u0022 data-eid=\u0022part_IV__sec_27__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27__subsec_3__p_1\u0022 id=\u0022part_IV__sec_27__subsec_3__p_1\u0022\u003EWhere the accounts and statement of accounts of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27__subsec_3__p_1__term_1\u0022 id=\u0022part_IV__sec_27__subsec_3__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E in respect of any financial year have been audited, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27__subsec_3__p_1__term_2\u0022 id=\u0022part_IV__sec_27__subsec_3__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E shall furnish the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_IV__sec_27__subsec_3__p_1__term_3\u0022 id=\u0022part_IV__sec_27__subsec_3__p_1__term_3\u0022\u003EMinister\u003C\/span\u003E a copy of the statement together with a copy of any report by the Auditor General on the statement of accounts or on the accounts of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27__subsec_3__p_1__term_4\u0022 id=\u0022part_IV__sec_27__subsec_3__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-section\u0022 id=\u0022part_IV__sec_27A\u0022 data-eid=\u0022part_IV__sec_27A\u0022\u003E\u003Ch3\u003E27A. \u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_27A__subsec_1\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__intro__p_1\u0022 id=\u0022part_IV__sec_27A__subsec_1__intro__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__intro__p_1__term_1\u0022 id=\u0022part_IV__sec_27A__subsec_1__intro__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall, not later than 6 months after the end of each financial year, submit to the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__intro__p_1__term_2\u0022 id=\u0022part_IV__sec_27A__subsec_1__intro__p_1__term_2\u0022\u003EMinister\u003C\/span\u003E \u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_27A__subsec_1__para_a\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__para_a__p_1\u0022 id=\u0022part_IV__sec_27A__subsec_1__para_a__p_1\u0022\u003Ea report of the activities and operations of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__para_a__p_1__term_1\u0022 id=\u0022part_IV__sec_27A__subsec_1__para_a__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E throughout the preceding financial year in such detail as the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__para_a__p_1__term_2\u0022 id=\u0022part_IV__sec_27A__subsec_1__para_a__p_1__term_2\u0022\u003EMinister\u003C\/span\u003E may direct; and\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_IV__sec_27A__subsec_1__para_b\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__para_b__p_1\u0022 id=\u0022part_IV__sec_27A__subsec_1__para_b__p_1\u0022\u003Ea statement of the audited accounts of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27A__subsec_1__para_b__p_1__term_1\u0022 id=\u0022part_IV__sec_27A__subsec_1__para_b__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E for the preceding year.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_27A__subsec_2\u0022 data-eid=\u0022part_IV__sec_27A__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27A__subsec_2__p_1\u0022 id=\u0022part_IV__sec_27A__subsec_2__p_1\u0022\u003EA copy of the report and the statement of the audited accounts of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_27A__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_27A__subsec_2__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E referred to in subsections \u003Ca data-href=\u0022#part_IV__sec_27A__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_27A__subsec_1\u0022 data-eid=\u0022part_IV__sec_27A__subsec_2__p_1__ref_1\u0022 id=\u0022part_IV__sec_27A__subsec_2__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E and \u003Ca data-href=\u0022#part_IV__sec_27A__subsec_2\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_27A__subsec_2\u0022 data-eid=\u0022part_IV__sec_27A__subsec_2__p_1__ref_2\u0022 id=\u0022part_IV__sec_27A__subsec_2__p_1__ref_2\u0022\u003E(2)\u003C\/a\u003E shall be submitted to the National Assembly not later than three months from the date of receipt thereof by the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_IV__sec_27A__subsec_2__p_1__term_2\u0022 id=\u0022part_IV__sec_27A__subsec_2__p_1__term_2\u0022\u003EMinister\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_27A__wrapup__p_1\u0022 id=\u0022part_IV__sec_27A__wrapup__p_1\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[section 27A inserted by section 22 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_IV__sec_27A__wrapup__p_1__ref_1\u0022 id=\u0022part_IV__sec_27A__wrapup__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_IV__sec_28\u0022 data-eid=\u0022part_IV__sec_28\u0022\u003E\u003Ch3 diff:rename=\u0022span\u0022 diff:delete-attr=\u0022class\u0022 class=\u0022ins \u0022\u003E28. Exemption from taxation\u003C\/h3\u003E\u003Ch3 class=\u0022del \u0022\u003E28. Exemption from taxation\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_28__subsec_1\u0022 data-eid=\u0022part_IV__sec_28__subsec_1\u0022\u003E\u003Cspan class=\u0022ins akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022ins akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_28__subsec_1__p_1\u0022 id=\u0022part_IV__sec_28__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_28__subsec_1__p_1__term_1\u0022 id=\u0022part_IV__sec_28__subsec_1__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall, notwithstanding any other written law, be exempt from the payment of the business tax.\u003C\/span\u003E\u003C\/span\u003E\u003Cspan class=\u0022del akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022del akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_28__subsec_1__p_1\u0022 id=\u0022part_IV__sec_28__subsec_1__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_28__subsec_1__p_1__term_1\u0022 id=\u0022part_IV__sec_28__subsec_1__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall, notwithstanding any other written law, be exempt from the payment of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-business_tax\u0022 data-eid=\u0022part_IV__sec_28__subsec_1__p_1__term_2\u0022 id=\u0022part_IV__sec_28__subsec_1__p_1__term_2\u0022\u003Ebusiness tax\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_28__subsec_2\u0022 data-eid=\u0022part_IV__sec_28__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_28__subsec_2__p_1\u0022 id=\u0022part_IV__sec_28__subsec_2__p_1\u0022\u003EAll property of, and all instruments executed by or on behalf of, the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_28__subsec_2__p_1__term_1\u0022 id=\u0022part_IV__sec_28__subsec_2__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall be exempt from the payment of stamp duty or any other duty.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_IV__sec_28__subsec_3\u0022 data-eid=\u0022part_IV__sec_28__subsec_3\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(3)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_IV__sec_28__subsec_3__p_1\u0022 id=\u0022part_IV__sec_28__subsec_3__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_IV__sec_28__subsec_3__p_1__term_1\u0022 id=\u0022part_IV__sec_28__subsec_3__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E may, with the approval of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_IV__sec_28__subsec_3__p_1__term_2\u0022 id=\u0022part_IV__sec_28__subsec_3__p_1__term_2\u0022\u003EMinister\u003C\/span\u003E, apply for exemption of tax in a foreign country or territory, including applying to register or establish independent tax-exempt fundraising organisation in a foreign country or territory.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-part\u0022 id=\u0022part_V\u0022 data-eid=\u0022part_V\u0022\u003E\u003Ch2\u003EPart V \u0026#x2013; Miscellaneous\u003C\/h2\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_V__sec_29\u0022 data-eid=\u0022part_V__sec_29\u0022\u003E\u003Ch3\u003E29. Dissolution of \u003Cspan class=\u0022del akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_29__term_1\u0022 id=\u0022part_V__sec_29__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003ETrust\u003C\/ins\u003E\u003C\/h3\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_V__sec_29__subsec_1\u0022 data-eid=\u0022part_V__sec_29__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_29__subsec_1__intro__p_1\u0022 id=\u0022part_V__sec_29__subsec_1__intro__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_V__sec_29__subsec_1__intro__p_1__term_1\u0022 id=\u0022part_V__sec_29__subsec_1__intro__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E may\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_29__subsec_1__para_a\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_a__p_1\u0022 id=\u0022part_V__sec_29__subsec_1__para_a__p_1\u0022\u003Ein the event of bankruptcy of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_a__p_1__term_1\u0022 id=\u0022part_V__sec_29__subsec_1__para_a__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_29__subsec_1__para_b\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_b__p_1\u0022 id=\u0022part_V__sec_29__subsec_1__para_b__p_1\u0022\u003Eif its tax-exempt status provided for in section \u003Ca data-href=\u0022#part_IV__sec_28\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_28\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_b__p_1__ref_1\u0022 id=\u0022part_V__sec_29__subsec_1__para_b__p_1__ref_1\u0022\u003E28\u003C\/a\u003E is revoked; or\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_29__subsec_1__para_c\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_c__p_1\u0022 id=\u0022part_V__sec_29__subsec_1__para_c__p_1\u0022\u003Eif it has become impracticable to achieve the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_29__subsec_1__para_c__p_1__term_1\u0022 id=\u0022part_V__sec_29__subsec_1__para_c__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E,\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_29__subsec_1__wrapup__p_1\u0022 id=\u0022part_V__sec_29__subsec_1__wrapup__p_1\u0022\u003Eby an extraordinary resolution adopted by a \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-special_majority_vote\u0022 data-eid=\u0022part_V__sec_29__subsec_1__wrapup__p_1__term_1\u0022 id=\u0022part_V__sec_29__subsec_1__wrapup__p_1__term_1\u0022\u003Especial majority vote\u003C\/span\u003E dissolve the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_29__subsec_1__wrapup__p_1__term_2\u0022 id=\u0022part_V__sec_29__subsec_1__wrapup__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-subsection\u0022 id=\u0022part_V__sec_29__subsec_2\u0022 data-eid=\u0022part_V__sec_29__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_29__subsec_2__p_1\u0022 id=\u0022part_V__sec_29__subsec_2__p_1\u0022\u003EUpon the dissolution of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_29__subsec_2__p_1__term_1\u0022 id=\u0022part_V__sec_29__subsec_2__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E, the assets of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_29__subsec_2__p_1__term_2\u0022 id=\u0022part_V__sec_29__subsec_2__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E, except the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Endowment_Fund\u0022 data-eid=\u0022part_V__sec_29__subsec_2__p_1__term_3\u0022 id=\u0022part_V__sec_29__subsec_2__p_1__term_3\u0022\u003EEndowment Fund\u003C\/span\u003E, without prejudice to any other provisions, shall be distributed to any organisation not affiliated with any Ministry or government agency which has as its purpose a charitable, educational of scientific purpose for the benefit of the public that is substantially similar, to the objects of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_29__subsec_2__p_1__term_4\u0022 id=\u0022part_V__sec_29__subsec_2__p_1__term_4\u0022\u003ETrust\u003C\/span\u003E.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_V__sec_30\u0022 data-eid=\u0022part_V__sec_30\u0022\u003E\u003Ch3\u003E30. Application of provision of Penal Code\u003C\/h3\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_30__p_1\u0022 id=\u0022part_V__sec_30__p_1\u0022\u003EThe Directors, officers, employees of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_30__p_1__term_1\u0022 id=\u0022part_V__sec_30__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E or any other person acting under the direction of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_30__p_1__term_2\u0022 id=\u0022part_V__sec_30__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E shall be deemed to be employed in the public service for the purpose of sections 91 to 96 of the Penal Code.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_V__sec_31\u0022 data-eid=\u0022part_V__sec_31\u0022\u003E\u003Ch3\u003E31. Regulations\u003C\/h3\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__intro__p_1\u0022 id=\u0022part_V__sec_31__intro__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Minister\u0022 data-eid=\u0022part_V__sec_31__intro__p_1__term_1\u0022 id=\u0022part_V__sec_31__intro__p_1__term_1\u0022\u003EMinister\u003C\/span\u003E shall, on the advice of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_V__sec_31__intro__p_1__term_2\u0022 id=\u0022part_V__sec_31__intro__p_1__term_2\u0022\u003EBoard\u003C\/span\u003E, make regulations, consistent with this Act, for carrying into effect the provisions of this Act which may provide for all or any of the following matters\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_31__para_a\u0022 data-eid=\u0022part_V__sec_31__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__para_a__p_1\u0022 id=\u0022part_V__sec_31__para_a__p_1\u0022\u003E\u003Cspan class=\u0022del akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (a) repealed by section 23 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_31__para_a__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_a__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003Cins\u003Eother costs in relation to administrative expenditure under section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_I__sec_2\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_I__sec_2\u0022 data-eid=\u0022part_V__sec_31__para_a__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_a__p_1__ref_1\u0022\u003E2\u003C\/a\u003E\u003Cins\u003E;\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_31__para_b\u0022 data-eid=\u0022part_V__sec_31__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__para_b__p_1\u0022 id=\u0022part_V__sec_31__para_b__p_1\u0022\u003E\u003Cspan class=\u0022del akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (b) repealed by section 23 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_31__para_b__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_b__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003Cins\u003Ethe percentage of aggregate of the annual revenue of the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_31__para_b__p_1__term_1\u0022 id=\u0022part_V__sec_31__para_b__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E\u003Cins\u003E under section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_II__sec_6__subsec_3\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_II__sec_6__subsec_3\u0022 data-eid=\u0022part_V__sec_31__para_b__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_b__p_1__ref_1\u0022\u003E6(3)\u003C\/a\u003E\u003Cins\u003E;\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_31__para_c\u0022 data-eid=\u0022part_V__sec_31__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__para_c__p_1\u0022 id=\u0022part_V__sec_31__para_c__p_1\u0022\u003Ethe restrictions on advice under section \u003Ca data-href=\u0022#part_II__sec_6__subsec_5\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_II__sec_6__subsec_5\u0022 data-eid=\u0022part_V__sec_31__para_c__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_c__p_1__ref_1\u0022\u003E6(5)\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_31__para_d\u0022 data-eid=\u0022part_V__sec_31__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__para_d__p_1\u0022 id=\u0022part_V__sec_31__para_d__p_1\u0022\u003E\u003Cspan class=\u0022del akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (d) repealed by section 23 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_31__para_d__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_d__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003Cins\u003Ethe budgetary and other restrictions on appointment of other employees under section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_III__sec_14\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_14\u0022 data-eid=\u0022part_V__sec_31__para_d__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_d__p_1__ref_1\u0022\u003E14\u003C\/a\u003E\u003Cins\u003E;\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_31__para_e\u0022 data-eid=\u0022part_V__sec_31__para_e\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(e)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__para_e__p_1\u0022 id=\u0022part_V__sec_31__para_e__p_1\u0022\u003E\u003Cspan class=\u0022del akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (e) repealed by section 23 of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_31__para_e__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_e__p_1__ref_1\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003Cins\u003Ethe restriction on delegation of powers or functions by the \u003C\/ins\u003E\u003Cspan class=\u0022ins akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_V__sec_31__para_e__p_1__term_1\u0022 id=\u0022part_V__sec_31__para_e__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E\u003Cins\u003E to a Director or any committee under section \u003C\/ins\u003E\u003Ca data-href=\u0022#part_III__sec_15__subsec_3\u0022 class=\u0022ins akn-ref\u0022 href=\u0022#part_III__sec_15__subsec_3\u0022 data-eid=\u0022part_V__sec_31__para_e__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_e__p_1__ref_1\u0022\u003E15(3)\u003C\/a\u003E\u003Cins\u003E;\u003C\/ins\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_31__para_f\u0022 data-eid=\u0022part_V__sec_31__para_f\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(f)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__para_f__p_1\u0022 id=\u0022part_V__sec_31__para_f__p_1\u0022\u003Ethe form and manner of accounts and other relevant records and the income and expenditure statement under section \u003Ca data-href=\u0022#part_IV__sec_27__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_27__subsec_1\u0022 data-eid=\u0022part_V__sec_31__para_f__p_1__ref_1\u0022 id=\u0022part_V__sec_31__para_f__p_1__ref_1\u0022\u003E27(1)\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_31__para_g\u0022 data-eid=\u0022part_V__sec_31__para_g\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(g)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_31__para_g__p_1\u0022 id=\u0022part_V__sec_31__para_g__p_1\u0022\u003Eany other matter which is necessary or required to be prescribed by regulations under this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-section\u0022 id=\u0022part_V__sec_32\u0022 data-eid=\u0022part_V__sec_32\u0022\u003E\u003Ch3\u003E32. Rules\u003C\/h3\u003E\u003Cspan class=\u0022ins akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__intro__p_1\u0022 id=\u0022part_V__sec_32__intro__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_32__intro__p_1__term_1\u0022 id=\u0022part_V__sec_32__intro__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E shall make rules, consistent with this Act and the regulations made under section \u003Ca data-href=\u0022#part_V__sec_31\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_V__sec_31\u0022 data-eid=\u0022part_V__sec_32__intro__p_1__ref_1\u0022 id=\u0022part_V__sec_32__intro__p_1__ref_1\u0022\u003E31\u003C\/a\u003E, for carrying into effect the provisions of this Act which may provide for all or any of the following matters\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_V__sec_32__para_a\u0022 id=\u0022part_V__sec_32__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__para_a__p_1\u0022 id=\u0022part_V__sec_32__para_a__p_1\u0022\u003Erules of procedure for transaction of business under of section \u003Ca data-href=\u0022#part_III__sec_11__subsec_5\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_11__subsec_5\u0022 data-eid=\u0022part_V__sec_32__para_a__p_1__ref_1\u0022 id=\u0022part_V__sec_32__para_a__p_1__ref_1\u0022\u003E11(5)\u003C\/a\u003E and the procedures for establishment of committees under section \u003Ca data-href=\u0022#part_III__sec_13__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_13__subsec_1\u0022 data-eid=\u0022part_V__sec_32__para_a__p_1__ref_2\u0022 id=\u0022part_V__sec_32__para_a__p_1__ref_2\u0022\u003E13(1)\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_V__sec_32__para_b\u0022 id=\u0022part_V__sec_32__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__para_b__p_1\u0022 id=\u0022part_V__sec_32__para_b__p_1\u0022\u003Ethe terms and conditions of the service of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Chief_Executive_Officer\u0022 data-eid=\u0022part_V__sec_32__para_b__p_1__term_1\u0022 id=\u0022part_V__sec_32__para_b__p_1__term_1\u0022\u003EChief Executive Officer\u003C\/span\u003E and other employees of the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_32__para_b__p_1__term_2\u0022 id=\u0022part_V__sec_32__para_b__p_1__term_2\u0022\u003ETrust\u003C\/span\u003E under sections \u003Ca data-href=\u0022#part_III__sec_12__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_12__subsec_1\u0022 data-eid=\u0022part_V__sec_32__para_b__p_1__ref_1\u0022 id=\u0022part_V__sec_32__para_b__p_1__ref_1\u0022\u003E12(1)\u003C\/a\u003E and \u003Ca data-href=\u0022#part_III__sec_14\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_14\u0022 data-eid=\u0022part_V__sec_32__para_b__p_1__ref_2\u0022 id=\u0022part_V__sec_32__para_b__p_1__ref_2\u0022\u003E14\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_V__sec_32__para_c\u0022 id=\u0022part_V__sec_32__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__para_c__p_1\u0022 id=\u0022part_V__sec_32__para_c__p_1\u0022\u003Ethe procedure, \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_V__sec_32__para_c__p_1__term_1\u0022 id=\u0022part_V__sec_32__para_c__p_1__term_1\u0022\u003Eoperational manual\u003C\/span\u003E and \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_V__sec_32__para_c__p_1__term_2\u0022 id=\u0022part_V__sec_32__para_c__p_1__term_2\u0022\u003Einvestment guidelines\u003C\/span\u003E under section \u003Ca data-href=\u0022#part_III__sec_15__subsec_2__para_c\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_15__subsec_2__para_c\u0022 data-eid=\u0022part_V__sec_32__para_c__p_1__ref_1\u0022 id=\u0022part_V__sec_32__para_c__p_1__ref_1\u0022\u003E15(2)(c)\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_V__sec_32__para_d\u0022 id=\u0022part_V__sec_32__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__para_d__p_1\u0022 id=\u0022part_V__sec_32__para_d__p_1\u0022\u003Ethe requirements under which an agency shall be eligible for a payment from the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_32__para_d__p_1__term_1\u0022 id=\u0022part_V__sec_32__para_d__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E and the other criteria, priorities and procedures for grants under section \u003Ca data-href=\u0022#part_IV__sec_23\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_23\u0022 data-eid=\u0022part_V__sec_32__para_d__p_1__ref_1\u0022 id=\u0022part_V__sec_32__para_d__p_1__ref_1\u0022\u003E23\u003C\/a\u003E(1);\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022ins akn-paragraph\u0022 data-eid=\u0022part_V__sec_32__para_e\u0022 id=\u0022part_V__sec_32__para_e\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(e)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__para_e__p_1\u0022 id=\u0022part_V__sec_32__para_e__p_1\u0022\u003Eany other matter which is necessary or required to be prescribed by rules under this Act.\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-subsection\u0022 id=\u0022part_V__sec_32__subsec_1\u0022 data-eid=\u0022part_V__sec_32__subsec_1\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(1)\u003C\/span\u003E\u003Cspan class=\u0022akn-intro\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__intro__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__intro__p_1\u0022\u003EThe \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Board\u0022 data-eid=\u0022part_V__sec_32__subsec_1__intro__p_1__term_1\u0022 id=\u0022part_V__sec_32__subsec_1__intro__p_1__term_1\u0022\u003EBoard\u003C\/span\u003E shall make rules, consistent with this Act and the regulations made under section \u003Ca data-href=\u0022#part_V__sec_31\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_V__sec_31\u0022 data-eid=\u0022part_V__sec_32__subsec_1__intro__p_1__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__intro__p_1__ref_1\u0022\u003E31\u003C\/a\u003E, for carrying into effect the provisions of this Act which may provide for all or any of the following matters\u0026#x2014;\u003C\/span\u003E\u003C\/span\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_32__subsec_1__para_a\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_a\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(a)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_a__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_a__p_1\u0022\u003Erules of procedure for transaction of business under of section \u003Ca data-href=\u0022#part_III__sec_11__subsec_5\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_11__subsec_5\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_a__p_1__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_a__p_1__ref_1\u0022\u003E11(5)\u003C\/a\u003E and the procedures for establishment of committees under section \u003Ca data-href=\u0022#part_III__sec_13__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_13__subsec_1\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_a__p_1__ref_2\u0022 id=\u0022part_V__sec_32__subsec_1__para_a__p_1__ref_2\u0022\u003E13(1)\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_32__subsec_1__para_b\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_b\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(b)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_b__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_b__p_1\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (b) repealed by section 24(b)(ii) of \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_b__p_1__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_b__p_1__ref_1\u0022\u003EAct 23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_32__subsec_1__para_c\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_c\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(c)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_c__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_c__p_1\u0022\u003Ethe procedure, \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-operational_manual\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_c__p_1__term_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_c__p_1__term_1\u0022\u003Eoperational manual\u003C\/span\u003E and \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-investment_guidelines\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_c__p_1__term_2\u0022 id=\u0022part_V__sec_32__subsec_1__para_c__p_1__term_2\u0022\u003Einvestment guidelines\u003C\/span\u003E under section \u003Ca data-href=\u0022#part_III__sec_15__subsec_2__para_c\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_III__sec_15__subsec_2__para_c\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_c__p_1__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_c__p_1__ref_1\u0022\u003E15(2)(c)\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_32__subsec_1__para_d\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_d\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(d)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_d__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_d__p_1\u0022\u003Ethe requirements under which an agency shall be eligible for a payment from the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_d__p_1__term_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_d__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E and the other criteria, priorities and procedures for grants under section \u003Ca data-href=\u0022#part_IV__sec_23__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_IV__sec_23__subsec_1\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_d__p_1__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_d__p_1__ref_1\u0022\u003E23(1)\u003C\/a\u003E;\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_32__subsec_1__para_e\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_e\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(e)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_e__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_e__p_1\u0022\u003Eany other matter which is necessary or required to be prescribed by rules under this Act;\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_e__p_2\u0022 id=\u0022part_V__sec_32__subsec_1__para_e__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (e) amended by section 24(b)(iii) of \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_e__p_2__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_e__p_2__ref_1\u0022\u003EAct 23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022akn-paragraph\u0022 id=\u0022part_V__sec_32__subsec_1__para_f\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_f\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(f)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_f__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_f__p_1\u0022\u003Estaff rules.\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_f__p_2\u0022 id=\u0022part_V__sec_32__subsec_1__para_f__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[paragraph (f) added by section 24(b)(iv) of \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_32__subsec_1__para_f__p_2__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__para_f__p_2__ref_1\u0022\u003EAct 23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Cspan class=\u0022akn-wrapUp\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_1__wrapup__p_1\u0022 id=\u0022part_V__sec_32__subsec_1__wrapup__p_1\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_V__sec_32__subsec_1\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_V__sec_32__subsec_1\u0022 data-eid=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_1\u0022 id=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_1\u0022\u003E(1)\u003C\/a\u003E, previously section \u003Ca data-href=\u0022#part_V__sec_32\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_V__sec_32\u0022 data-eid=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_2\u0022 id=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_2\u0022\u003E32\u003C\/a\u003E, renumbered by section 24(a) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_3\u0022 id=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_3\u0022\u003E23 of 2022\u003C\/a\u003E and amended by section 24(b)(i) of \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_4\u0022 id=\u0022part_V__sec_32__subsec_1__wrapup__p_1__ref_4\u0022\u003EAct 23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003Csection class=\u0022del akn-subsection\u0022 id=\u0022part_V__sec_32__subsec_2\u0022 data-eid=\u0022part_V__sec_32__subsec_2\u0022\u003E\u003Cspan class=\u0022akn-num\u0022\u003E(2)\u003C\/span\u003E\u003Cspan class=\u0022akn-content\u0022\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_2__p_1\u0022 id=\u0022part_V__sec_32__subsec_2__p_1\u0022\u003EFor the purposes of this section, the word \u0026#x201C;rules\u0026#x201D; shall be construed as guidelines that are binding on the \u003Cspan class=\u0022akn-term\u0022 data-refersto=\u0022#term-Trust\u0022 data-eid=\u0022part_V__sec_32__subsec_2__p_1__term_1\u0022 id=\u0022part_V__sec_32__subsec_2__p_1__term_1\u0022\u003ETrust\u003C\/span\u003E and such rules do not form part of the laws of Seychelles.\u003C\/span\u003E\u003Cspan class=\u0022akn-p\u0022 data-eid=\u0022part_V__sec_32__subsec_2__p_2\u0022 id=\u0022part_V__sec_32__subsec_2__p_2\u0022\u003E\u003Cspan class=\u0022akn-remark\u0022 data-status=\u0022editorial\u0022\u003E[subsection \u003Ca data-href=\u0022#part_V__sec_32__subsec_2\u0022 class=\u0022akn-ref\u0022 href=\u0022#part_V__sec_32__subsec_2\u0022 data-eid=\u0022part_V__sec_32__subsec_2__p_2__ref_1\u0022 id=\u0022part_V__sec_32__subsec_2__p_2__ref_1\u0022\u003E(2)\u003C\/a\u003E added by section 24(c) of Act \u003Ca data-href=\u0022\/akn\/sc\/act\/2022\/23\u0022 class=\u0022akn-ref\u0022 href=\u0022https:\/\/resolver.laws.africa\/resolve\/akn\/sc\/act\/2022\/23\u0022 data-eid=\u0022part_V__sec_32__subsec_2__p_2__ref_2\u0022 id=\u0022part_V__sec_32__subsec_2__p_2__ref_2\u0022\u003E23 of 2022\u003C\/a\u003E]\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/section\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\n\n\n\n\n\u003C\/div\u003E"},"is_older":false}]