Section 47
ActIn forceProvision 47 of 52
Section 47
(1)
All monies from fees and charges payable to the Board under this Act shall be paid to the Board.
(2)
The monies received by the Board under this Act shall be applied as follows:
(a)
to defray the expenses of registration and any other expenses incurred in the administration of this Act, including any expenses of the Board that may be allowed under any regulations made under this Act; and
(b)
to provide scholarships and to promote learning and education in the field of geology.
(3)
Monies not immediately required by the Board shall be invested in such trustee securities as the Board may determine after consultation with the Minister or kept as fixed deposits in such banks as the Board may determine after consultation with the Minister.
Geologists 37