17. Employees' Old-Age Benefit Fund: (1) The Institution shall have its own fund, to be called tile employees' Old-Age Benefits Fund and may incur out of the Fund such expenditure as may be necessary for the purposes of this Act.

(2) All contributions paid under this Act and all other moneys received by or on behalf of the Institution shall be paid into the Fund.

(3) The Institution shall derive its revenues from tile following sources--

(a) contribution payable under this Act and the rules ·

(b) all other payments made by the employers under this Act and the regulations;

(c) income from investment of the moneys of the Institution; and

(d) donations and bequests for the purposes of this Act.

(4) The assets of the Institution shall be utilized solely for the purposes of this Act.

(5) The moneys of the Institution shall deposited such banks as may be approved by the Board for the purpose.

18. Investments and loans: (1) Subject to rules, the Institution may, from time to time, invest any moneys which are immediately required for expenses under this Act, and may reinvest or realise such investment.

(2) The Institution may, with the previous sanction of the Federal Government and on such terms as it may specify, raise loans and take measures for discharging such loans,

19. Budget, accounts and audit: (1) The institution shall draw up annually a budget showing the anticipated receipts and expenditure during the following year and shall submit it to the Board for tile approval of the Federal Government.

(2) The Institution shall maintain accounts of its income and expenditure in such form and manner as may be prescribed.

(3) The books of account of the Institution shall be balanced on the thirtieth of June each year and its accounts shall be audited by auditors approved by the Federal Government at such time and in such manner as may be prescribed.

(4) The auditors shall at all reasonable times have access to the books of accounts and other documents of the institution and may. lot the purposes of the audit call for such explanation and information as they may required and may examine any principal or other officer of the Institution.

(5) The auditors shall forward to the Federal Government their report together with an audited copy of the accounts of the Institution.

20. Annual Report: The Institution shall submit to the Federal Government an annual report of its work and activities.

21. Valuation of assets and liabilities: The Institution shall, at intervals of not more than five years. have an actuarial valuation made in the prescribed manner off its assets and liabilities:

Provided that the Federal Government may direct a valuation to be made at such other times as it may consider necessary.