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family has, whether in a private or professional capacity, in any matter that is under
consideration by the Authority and the Director General shall take such decision as he
considers appropriate in each case and submit a report thereon to the Authority.
Financing of
the Authority
12. —(1) The operating and financial costs of the Authority shall be financed from—
(a) fees and other moneys payable to the Authority in respect of licences issued by the
Authority under this Act;
(b) fines payable to the Authority in respect of breaches of licence terms, conditions and
obligations;
(c) grants or donations received by the Authority;
(d) such moneys as are from time to time appropriated to the Authority by Parliament; and
(e) the proceeds from the sale by the Authority of any assets or equipment to which it has
title.
Cap. 37:01
(2) Subject to the Finance and Audit Act, the Authority may borrow such amounts as it may
require for the performance of its functions under this Act with the prior approval of the
Minister of Finance.
(3) The Authority may charge fees in respect of publications, seminars, documents, advisory
and other services provided by the Authority.
(4) The moneys of the Authority which are not immediately required for the performance of
its functions may be invested on short-term deposit with any bank or financial institution in
Malawi.
(5) All moneys of the Authority which, in the opinion of the Minister of Finance, are in excess
of its budgetary requirements shall be paid into the Consolidated Fund, but the Authority shall
be entitled to retain such sums as it reasonably requires for its operations.
Account and
audit
13. —(1) The Authority shall cause to be kept proper books of accounts and other records
relating to its accounts.
(2) The accounts of the Authority shall—
(a) be audited annually by independent auditors appointed by the Authority and approved
by the Minister;
(b) be examined by the Auditor General before being presented to the Minister in
accordance with section 14.
(3) The financial year of the Authority shall end on 31st March.
(4) The Minister may, by order published in the Gazette, prescribe a different date for the
ending of the financial year of the Authority.
Annual
report
14. —(1) As soon as practicable, but not later than six months after the expiry of each
financial year, the Authority shall submit to Parliament through the Minister a report
concerning its activities during that financial year.
(2) The report referred to in subsection (1) shall be in such form and contain such information
as the Minister shall require.