Novel Corona Virus (Covid- 19) National Trust Fund Act, 2020 (Act 1013)
This section establishes the Novel Coronavirus (COVID-19) National Trust Fund as a body corporate and gives it powers to deal with property and contracts for its functions.
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Statute overview
About this statute
This section establishes the Novel Coronavirus (COVID-19) National Trust Fund as a body corporate and gives it powers to deal with property and contracts for its functions. The Fund is set up to support COVID-19 response by receiving donations and other resources for that purpose. The Fund’s money and resources come from donations, gifts, other voluntary contributions, money or resources lawfully payable to the Fund, and other amounts or resources the Board determines with the Minister responsible for Finance. The Fund’s money and resources vest in the Board, and the money must be paid into a bank account opened for the Fund with approval from the Controller and Accountant-General. Fund money must be used to support COVID-19 response and vulnerable affected persons, and disbursed under a Board-determined formula approved by the Minister.
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Provisions of Novel Corona Virus (Covid- 19) National Trust Fund Act, 2020 (Act 1013)
Showing 26 of 26
- 1 Verify source ↗
Section 1
AI-assisted research summary: This section establishes the Novel Coronavirus (COVID-19) National Trust Fund as a body corporate and gives it powers to deal with property and contracts for its functions.
Section 1—Establishment of the Novel Coronavirus (COVID-19) National Trust Fund (1) There is established by this Act a body corporate known as Novel Coronavirus (COVID- 19) National Trust Fund. (2) The Fund may, for the performance of the functions of the Fund, acquire and hold property, dispose of property and enter into a contract or any other related transaction. - 2 Verify source ↗
Objects of the Fund
AI-assisted research summary: The Fund is set up to support COVID-19 response by receiving donations and other resources for that purpose.
Section 2—Objects of the Fund The objects of the Fund are to (a) complement the efforts of Government to combat the COVID-19 pandemic, by providing an avenue for well-meaning individuals, groups and corporate bodies to contribute or donate moneys and resources that may be required to combat COVID-19; and (b) receive any other moneys or resources contributed or donated to combat COVID-19. - 3 Verify source ↗
Source of moneys and resources for the Fund
AI-assisted research summary: The Fund’s money and resources come from donations, gifts, other voluntary contributions, money or resources lawfully payable to the Fund, and other amounts or resources the Board determines with the Minister responsible for Finance.
Section 3—Source of moneys and resources for the Fund 4 The source of moneys and resources for the Fund are (a) donations, gifts or any other voluntary contribution to the Fund; (b) moneys or resources that may become lawfully payable to the Fund; and (c) any other moneys or resources that the Board in consultation with the Minister responsible for Finance may determine. - 4 Verify source ↗
Bank account of the Fund
AI-assisted research summary: The Fund’s money and resources vest in the Board, and the money must be paid into a bank account opened for the Fund with approval from the Controller and Accountant-General.
Section 4—Bank account of the Fund The moneys and resources for the Fund shall vest in the Board and the moneys shall be paid into a bank account opened for the Fund, with the approval of the Controller and Accountant- General. - 5 Verify source ↗
Application of moneys and resources of the Fund Governance of the Fund
AI-assisted research summary: Fund money must be used to support COVID-19 response and vulnerable affected persons, and disbursed under a Board-determined formula approved by the Minister.
Section 5—Application of moneys and resources of the Fund (1) To achieve the objects of the Fund, moneys and resources of the Fund shall be applied to (a) support persons engaged in the combat of the COVID-19 pandemic; (b) support needy and vulnerable persons infected with or affected by the COVID-19 pandemic; and (c) any other matter necessary to achieve the objects of the Fund. (2) The moneys and resources of the Fund shall be disbursed in accordance with a formula to be determined by the Board and subject to the approval of the Minister. (3) Where the exigencies require, the Board may review the formula under subsection (2), subject to the approval of the Minister. Governance of the Fund - 6 Verify source ↗
Board of Trustees
AI-assisted research summary: The President appoints the Board of Trustees, which must include a chairperson and six other people, with at least one woman.
Section 6—Board of Trustees (1) The governing body of the Fund is a Board of Trustees appointed by the President consisting of (a) a chairperson; and (b) six other persons, at least one of whom is a woman. (2) The President shall, in appointing the chairperson and other members of the Board under subsection (1), take into consideration the integrity, knowledge, expertise and experience of the person. (3) The chairperson and members of the Board shall hold office on terms and conditions specified in the letters of appointment. - 7 Verify source ↗
Functions of the Board
AI-assisted research summary: The Board manages the Fund and must monitor it, set management procedures, invest unused money safely, prepare disbursement guidelines with ministerial approval, and do other functions needed to achieve the Fund’s objects.
Section 7—Functions of the Board (1) The Board is responsible for the management of the Fund. (2) For purposes of subsection (1), the Board shall (a) monitor and evaluate the operations and performance of the Fund; 5 (b) ensure accountability of the Fund by defining appropriate procedures for the management of the Fund; (c) subject to the Public Financial Management Act, 2016 (Act 921), invest moneys of the Fund that are not required for immediate use in safe securities that are financially beneficial to the Fund; (d) prepare guidelines, with the approval of the Minister, for the disbursement of moneys from the Fund; and (e) perform any other function incidental to the achievement of the objects of the Fund. - 8 Verify source ↗
Tenure of office of members of the Board
AI-assisted research summary: Board members may resign in writing to the President; absence from three consecutive meetings without sufficient cause ends membership; the Minister handles vacancy determinations and notification, and the President appoints replacements.
Section 8—Tenure of office of members of the Board (1) A member of the Board may at any time resign from office in writing addressed to the President. (2) A member of the Board, who is absent from three consecutive meetings of the Board without sufficient cause, ceases to be a member of the Board. (3) Where a member of the Board is, for a sufficient reason, unable to act as a member, the Minister shall determine whether the inability may result in the declaration of a vacancy. (4) Where there is a vacancy (a) under subsection (1) or (2) or subsection (2) of section 10, (b) as a result of a declaration under subsection (3), or (c) by reason of the death of a member, the Minister shall notify the President of the vacancy and the President shall appoint a person to fill the vacancy. - 9 Verify source ↗
Meetings of members of the Board
AI-assisted research summary: Rules for Board meetings, quorum, voting, and who presides.
Section 9—Meetings of members of the Board (1) The Board shall meet regularly for the despatch of business at a time, place and manner determined by the chairperson. (2) The chairperson shall, at the request in writing of not less than one-third of the membership of the Board, convene an extraordinary meeting of the Board at a time, place and manner determined by the chairperson. (3) The quorum at a meeting of the Board is four members. (4) The chairperson shall preside at meetings of the Board and in the absence of the chairperson, a member of the Board elected by the members present from among their number shall preside. (5) Matters before the Board shall be decided by a majority of the members present and voting and in the event of an equality of votes, the person presiding shall have a casting vote. (6) The Board may co-opt a person to attend a meeting of the Board but that person shall not vote on a matter for decision at the meeting. (7) The validity of proceedings of the Board shall not be affected by any vacancy among the members or by any defect in the appointment of a member. 6 - 10 Verify source ↗
Disclosure of interest
AI-assisted research summary: Board members with an interest in a matter must disclose it in writing and must not take part in the Board’s deliberations on that matter.
Section 10—Disclosure of interest (1) A member of the Board who has an interest in a matter for consideration shall (a) disclose in writing the nature of the interest and the disclosure shall form part of the record of the consideration of the matter; and (b) not participate in the deliberations of the Board in respect of that matter. (2) A member ceases to be a member of the Board, if that member has an interest in a matter before the Board and (a) fails to disclose that interest; or (b) participates in the deliberations of the Board in respect of that matter. - 11 Verify source ↗
Establishment of committees
AI-assisted research summary: The Board may set up committees, and each committee must be chaired by a Board member.
Section 11—Establishment of committees (1) The Board may establish committees consisting of members and non-members of the Board to perform a function of the Board. (2) A committee of the Board shall be chaired by a member of the Board. (3) Section 10 applies to members of a committee of the Board. - 12 Verify source ↗
Allowances
AI-assisted research summary: Board members and committee members are to be paid allowances approved by the Minister, after consulting the Minister responsible for Finance.
Section 12—Allowances Members of the Board and members of a committee of the Board shall be paid allowances approved by the Minister in consultation with the Minister responsible for Finance. - 13 Verify source ↗
Policy directives Administrative Provisions
AI-assisted research summary: The Minister may issue policy directives to the Board, and the Board must comply.
Section 13—Policy directives The Minister may give policy directives consistent with the objects of this Act to the Board and the Board shall comply. Administrative Provisions - 14 Verify source ↗
Appointment of Administrator
Section 14—Appointment of Administrator (1) The President shall appoint an Administrator for the Fund. (2) The Administrator shall hold office on the terms and conditions specified in the letter of appointment. - 15 Verify source ↗
Functions of the Administrator
AI-assisted research summary: The Administrator runs the Fund day to day, carries out Board decisions, answers to the Board, may do other tasks assigned by the Board, and may delegate functions to a Fund officer while keeping ultimate responsibility.
Section 15—Functions of the Administrator (1) The Administrator (a) is responsible for the day-to-day administration of the Fund; (b) is responsible for ensuring the implementation of the decisions of the Board; (c) is answerable to the Board for the performance of the functions under this Act; and (d) shall perform any other functions assigned by the Board. (2) The Administrator is the secretary to the Board. 7 (3) The Administrator may delegate a function to an officer of the Fund but shall not be relieved of the ultimate responsibility for the performance of the delegated function. - 16 Verify source ↗
Appointment of other staff
AI-assisted research summary: The President must appoint staff needed for the Fund, may delegate that appointment power in writing to the Board, and the Board may engage an advisor or consultant on the Administrator’s recommendation.
Section 16—Appointment of other staff (1) The President shall appoint other staff of the Fund that are necessary for the effective and efficient performance of the functions of the Fund. (2) The President may, in writing, delegate the power of appointment in subsection (1) to the Board. (3) Other public officers may be transferred or seconded to the Fund. (4) The Board may, on the recommendations of the Administrator, engage the services of an advisor or a consultant. - 17 Verify source ↗
Internal Audit Unit
AI-assisted research summary: The Fund must have an Internal Audit Unit headed by an Internal Auditor.
Section 17—Internal Audit Unit (1) The Fund shall have an Internal Audit Unit in accordance with section 83 of the Public Financial Management Act, 2016 (Act 921). (2) The Internal Audit Unit shall be headed by an Internal Auditor who shall be appointed in accordance with the Internal Audit Agency Act, 2003 (Act 658). (3) The Internal Auditor is responsible for the internal audit of the Fund. (4) The Internal Auditor shall subject to subsections (3) and (4) of section 16 of the Internal Audit Agency Act, 2003 (Act 658), at intervals of three months (a) prepare and submit to the Board a report on the internal audit carried out during the period of three months immediately preceding the preparation of the report; and (b) make recommendations in each report with respect to matters which appear to the Internal Auditor as necessary for the conduct of the affairs of the Fund. (5) The Internal Auditor shall, in accordance with subsection (4) of section 16 of the Internal Audit Agency Act, 2003 (Act 658), submit a copy of each report prepared under this section to— (a) the Minister; (b) the Auditor-General; and (c) the chairperson of the Board. - 18 Verify source ↗
Secretariat of the Fund Financial Provisions
AI-assisted research summary: The Fund must have a secretariat headed by the Administrator.
Section 18—Secretariat of the Fund The Fund shall have a secretariat headed by the Administrator. Financial Provisions - 19 Verify source ↗
Expenses of the Fund
AI-assisted research summary: The Fund’s expenses must be paid from money provided for the Fund, and the Minister must approve that payment.
Section 19—Expenses of the Fund The expenses of the Fund shall be paid from moneys provided for the Fund, with the approval of the Minister. - 20 Verify source ↗
Exemption from tax
AI-assisted research summary: The Fund is exempt from tax.
Section 20—Exemption from tax 8 The Fund is exempt from tax. - 21 Verify source ↗
Accounts and audit
AI-assisted research summary: The Board must keep account records in the form approved by the Auditor-General, submit the Fund’s accounts for audit within two months after year-end, and the Auditor-General must audit and send the report to the Minister and the Board within six months after the previous financial year ends.
Section 21—Accounts and audit (1) The Board shall keep books, records, returns and other documents relevant to the accounts in the form approved by the Auditor-General. (2) The Board shall submit the accounts of the Fund to the Auditor-General for audit not later than two months after the end of the financial year in accordance with the Public Financial Management Act, 2016 (Act 921). (3) The Auditor-General shall, within six months after the end of the immediately preceding financial year, audit the accounts of the Fund and forward a copy each of the audit report to the Minister and the Board. (4) The financial year of the Fund is the same as the financial year of the Government. - 22 Verify source ↗
Annual report and other reports Miscellaneous Provisions 2
AI-assisted research summary: The Board must send an annual report to the Minister within 30 days after receiving the audit report, and the Minister must then send it to Parliament within 30 days after receiving it.
Section 22—Annual report and other reports (1) The Board shall, within thirty days after the receipt of the audit report, submit an annual report to the Minister covering the activities and operations of the Fund for the year to which the annual report relates. (2) The annual report shall include the report of the Auditor-General. (3) The Minister shall, within thirty days after the receipt of the annual report, submit the report to Parliament with a statement that the Minister considers necessary. (4) The Board shall submit to the Minister any other report which the Minister may require in writing. Miscellaneous Provisions - 23 Verify source ↗
Winding up of the Fund
AI-assisted research summary: If the President is satisfied the Fund is no longer needed, the Board must transfer the Fund’s bank money to the Consolidated Fund and transfer other Fund assets to the appropriate State agency chosen by the Minister.
Section 23—Winding up of the Fund Where the President is satisfied that there is no longer a need for the Fund, the Board shall ensure that (a) any money in the bank account of the Fund is transferred to the Consolidated Fund; and (b) any other asset acquired for and on behalf of the Fund is transferred to the appropriate State agency as determined by the Minister. - 24 Verify source ↗
Regulations
AI-assisted research summary: The Minister may make Regulations, with the Board’s advice, by legislative instrument, to help implement the Act.
Section 24—Regulations The Minister may, on the advice of the Board, by legislative instrument, make Regulations for the effective implementation of this Act. - 25 Verify source ↗
Interpretation
AI-assisted research summary: This section defines key terms used in the Act, including Administrator, Board, COVID-19, Fund, and Minister.
Section 25—Interpretation In this Act, unless the context otherwise requires, "Administrator" means the person appointed under section 14; "Board" means the governing body of the Fund established under section 6; "COVID-19" means an infectious disease caused by a novel coronavirus; 9 "Fund" means the Novel Coronavirus (COVID-19) National Trust Fund established under section 1; and "Minister" means the Minister designated in writing by the President as the Minister responsible for the Fund. - 26 Verify source ↗
Transitional provision
AI-assisted research summary: Money or resources donated to Government for COVID-19 response before the Fund was set up must be transferred or deposited within 14 days after this Act comes into force.
Section 26—Transitional provision Any moneys or resources contributed or donated to Government to combat the COVID-19 pandemic before the establishment of the Fund shall, within fourteen days of the coming into force of this Act, be transferred or deposited into the bank account established under section 4 or any other place determined by the Board. Date of Gazette Notification: 3rd April, 2020
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Novel Corona Virus (Covid- 19) National Trust Fund Act, 2020 (Act 1013)
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