Gaming Act (Cap. 583), article 34

34. (1) Without prejudice to the following provisions of this article, the Authority shall so conduct its affairs that t he expenditure required for the proper performance of its function s GAMING [CAP. 583. 23 shall, as far as pra cticable, be met out of its revenue. (2) The revenue of the Au thority shall consist of: (a) income derived in respe ct of authorisations and other fees, rates or charges, including tax, contribution, levy and other payments payable under this Act or any other law in respect of which the Authority exercises supervisory, regulatory or similar functions; (b) rents, interests and profits accruing from property, deposits and other as sets of the Authority; and (c) any other money receivable or received by the Authority.         Cap. 452.  Cap. 318.  Cap. 372. (3) Notwithstanding the provisions of any other law, the claim of the Authority of any amount due by way of any such fee s, rates, charges, taxes, duties and other payments including administrative penalties shall c onstitute a privileged claim, r anking immediately after the wages of employees due in terms of articl e 20 of the Employment and Industrial Relations Act and claims by the D i r e c t o r o f S o c i a l S e c u r i t y i n t e r m s o f a r t i c l e 1 1 6 o f t h e Social Security Act , and equally with claims by the Commissioner for Revenue in terms of article 23(11) of the Income Tax Management Act, and shall be paid after such wages and social security claims and together with such income tax claims in preference to all other claims whether privileged or hypothecary. (4) The Authority shall also be paid by Government out of the Consolidated Fund such sums as the House may from time to t ime authorise to be appropriated to m eet the costs of specified wor ks to be continued or otherwise carried out by the Authority, being work s of infrastructure or a s imilar capital nature. (5) Any funds of the Authority not immediately required to meet expenditure may be invested in accordance with the provisi ons of this Act. (6) The Authority may establish an "Ordinary Reserves Fund" to which may be appropriated surplus funds to be used for the purposes of the Authority. (7) The surplus funds of the Authority mentioned in sub- article (6) for each financial y ear of the Authority shall be d etermined after the Authority meets all current expenditure for that year a n d after making such provisions, including provisions for continge ncies, as it deems fit. (8) After the allocations referred to in sub-articles (6) and (7) have been made, the remainder of the surplus funds shall be paid to the Government. 24 [CAP. 583. GAMING Authority’s control of its finances.