15. The provisions of section 14 shall not relieve the Board of the liability to pay compensation
or damages to any person for an injury to him, his property or any of his interests caused by the
exercise of the powers conferred on the Board by this Act or by any other written law or by the
failure, whether wholly or partially, of any works.
16.(1) The funds of the Board shall comprise
(a) such sums as may be granted to the Board by the Minister pursuant to subsection (2);
(b) such monies or assets as may accrue to or vest in the Board in the course of the exercise
of its powers or the performance of its functions under this Act or under any other written law; and
(c) all monies from any other source provided for or donated or lent to the Board.
(2) There shall be made to the Board, out of monies provided by Parliament for that
purpose, grants towards the expenditure incurred by the Board in the exercise of its powers or the
performance of its functions under this Act.
17. The financial year of the Board shall be the period of twelve months ending on the
thirtieth June in each year.
18.(1) At least three months before the commencement of each financial year, the Board shall
cause to be prepared estimates of revenue and expenditure of the Board for that year.
(2) The annual estimates shall make provision for all estimated expenditure of the Board for
the financial year and in particular, the estimates shall provide for
(a) the payment of the salaries, allowances and other charges in respect of the staff of the Board;
(b) the payment of pensions, gratuities and other charges in respect of the staff of the Board;
(c) the proper maintenance of the buildings and grounds of the Board;
(d) the remuneration of Board members pursuant to section 9;
(e) the maintenance, repair and replacement of equipment and other property of the Board; and
(f) the creation of such reserve funds to meet future or contingent liabilities in respect of
retirement benefits, insurance or replacement of buildings or equipment, or in respect of such other
matter as the Board may deem appropriate.
(3) The annual estimates shall be approved by the Board before the commencement of the
financial year to which they relate and shall be submitted to the Minister for approval and after the
Minister's approval, the Board shall not increase the annual estimates without the consent of the
Minister.
19.(1) The Board shall cause to be kept all proper books and records of accounts of its