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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 July 2011 - onwards
  Version 3 of 3    

2. National Training Fund.

(1) There shall stand established, on commencement of this section, a fund which shall be known as the National Training Fund and in this Act is referred to as the "Fund".

(2) The Fund shall consist of a current account and an investment account.

(3) The Minister shall manage and control the current account of the Fund.

(4) The Minister for Finance shall manage and control the investment account of the Fund.

(5) Save where otherwise specifically provided

(a) sums payable into the Fund shall be paid into the current account of the Fund, and

(b) sums payable out of the Fund shall be paid out of that account.

(6) Moneys standing to the credit of the current account of the Fund and not required to meet current expenditure shall be transferred to the investment account of the Fund.

(7) Whenever the moneys standing to the credit of the current account of the Fund are insufficient to meet the liabilities of that account, there shall be transferred to that account from the investment account o

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