ADVOKS GLOBAL · KENYA
National Construction Authority Act
34. The National Construction Authority Fund.
Edition: 2022-12-31 · In force
34. The National Construction Authority Fund.
(1)There shall be established a Fund to be known as the National Construction Fund, which shall vest in the Authority.(2)There shall be paid into the Fund—(a)the initial budgetary provision by the Government as start-up capital for the establishment of the Authority;(b)the charges levied on contractors on services given by the Authority;(c)such moneys or assets as may accrue to or vest in the Authority in the course of the exercise of its powers or the performance of its functions under this Act or under any other written law;(d)all proceeds from the levy imposed under section 26; and(e)all moneys from any other source provided for or donated or lent to the Authority;(3)All receipts, savings and accruals for the Fund and the balance of the Fund at the end of the financial year shall be retained for the purposes for which the Fund is established.(4)There shall be paid out of the Fund any expenditure incurred by the Authority in the exercise of its powers or the performance of its functions under this Act.(5)The Board may with the approval of the Cabinet Secretary, set a ceiling of the money which may be spent on recurrent expenditure in any one year.