National Emergency Foundation Notice, 2005 (S.I. 20 of 2005)

S.I. 20 of 2005 PUBLIC FINANCES ACT (Cap 188A) National E~ergeQcy Fo~mdatlon,Notice, 2005 · In exercise of the powers conferred by section 8 of the Public Finances Act, the President acting asthe:Min:i:ster resporisibte for Finance hereby mak\;'s the following Notice 1. This Notice may be cited as theNational Emergency Citation Foundation Notice, 2005. 2. In this Notice "Board" means the Board of the Fund referred to in paragraph 6; "f~d" µi~ans the Fun4 established bv oara21:anh 3. 3. There is:hereby establishedi Fund tobe kndwri as the National Emergency Foundation. 4.(1) The objectives of the Fund are (a) (b) (c) fo ra,ise funds frotn Govenirri~nts,, pfi:y~t~ mc:lividuals, corporations, associations and other institutions or bodies in Seychelles and elsewhere; to use the funds to assist persons in cases. of emergencies, such as floods, fires, tsunainis,·land slides and other natural causes; to provide temporary relief to smaHbusinesses which have suffered sigmficantly through above causes by extending short tetm loans for Interpretation Establishment of the Fund Objectives and powers of the Fund purchase of equipment,raw materials or related products; (d) to assist other charitable organisations in achieving the above objectives. (2) The Board shall have the power to do all things necessary for or incidental to the achievement of the ob jectives of the Fund. 5. (1) , The Fund.shall consist of ( a) any money pa1011'.lto ~ t·unct by any person or otgartisation in or outsic:le Seychelles; and (b) any money lawfully accruillg to the Fund. (2) Disbursement of the moneys of the Fund shall be made by the Board. 6. (1) The Fund shall be administer~d by a Board consisting of 3 public officers and 4 per~biis repres~nting the private sector and non-governmental orgarosati.Qns app:ointed by the President. (2) The President shall appoint a chairman from among the members of the Board. (3) Subject to subpar~gr1;1ph ( 4 ); a member of the Board shall hold office for a term of3-years and maybe re-appointed. ( 4) If a vacancy ·occurs in the membership of the Board, the President shall appoint a memberhaving regard to subparagraph (1) for tµe ,rewauring period of the term. of office of the member vacating-offictf 7. (1 )The Board shall meetaUeastonceinceachmonth (2) . Qltee mem.~e,r~ of the Lloard. shall constitute a uuorum for.a l')l,e~ting ofthe 13oar4, (3) The decisions of the Board shall be made by a majority of the votes of the members present and voting at a meeting of the Board and, in the event of an equality of votes, the chairman shall have a casting vote. (4) Subject to subparagraphs (1) to (3), the Board shall regulate its proceedings. lS. The. Board may consult and cooperate with the relevant Ministries and other public authorities in implementing its decisions. 9. (1) The Board shall open and maintain an account with a financial institution and all moneys of the Fund shall be paid into the account. (2) . Any withdrawal of money from the llCcount shall require the signatures of at least two members of the Bo.ard designated by the Board. 10.(1) The Board shall keep proper books and accounts of the moneys of the Fund and shall prepare for the period from 28th December 2004 to 31st December 2005 and for each subsequent year a statement of accoimts. (2) The accounts and statement of accounts of the Fund shall be audited by the Auditor General. (3) The Board shall cause a copy of the audited accounts of the Fund to be published in a daily newspaper. 11. This Notice 'shall be deemed to have come into operation on 28th Petember,2004. MADE this 15th day ofApril, 2005. J.A. MICHEL PRESIDENT Consultation of public authorities Bank account of the Fund Accounts of the Fund Retrospective effect