116 No. 15 of 2010]
(3)
Agency—
Patents and Companies Registration
Agency
There shall be paid from the funds of the
the salaries, allowances, loans, gratuities and pensions of
the staff of the Agency and other payments for the
recruitment and retention of the staff;
such reasonable travelling, subsistence and other
allowances for members of the Board or any committee
of the Board when engaged on the business of the
Agency at such rates as the Board may, with the approval
of the Minister, determine; and
(c) any other expenses incurred by the Board in the
Financial
year
Accounts
Annual
report
performance of the Board's functions under this Act.
(4) The Board may, with the approval of the Minister, invest in
such manner as it considers appropriate such funds of the Agency
as it does not immediately require for the discharge of its functions.
17. The financial year of the Agency shall be the period of
twelve months ending on 31st December of each year.
18. (1) The Agency shall cause to be kept proper books of
account and other records relating to its accounts.
The accounts of the Agency shall be audited annually by
the Auditor-General or such independent auditors as the AuditorGeneral may approve.
The auditor's fees shall be paid by the Agency.
19. (1) As soon as practicable, but not later than ninety days
after the end of the financial year, the Agency shall submit to the
Minister a report concerning its activities during the financial year.
The report referred to in subsection (1) shall include
information on the financial affairs of the Agency and there shall
be appended to the report—
(a) an audited balance sheet;
(6) an audited statement of income and expenditure; and
(c) such other information as the Minister may require.
The Minister shall, not later than seven days after the first
sitting of the National Assembly next after receipt of the report
referred to in subsection (1), lay the report before the National
Assembly.