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Section 112: Finances of Fund
Financial Institutions Act · 57
Point-in-time consolidation · as at 31 December 2023. This non-pilot lookup is excluded from search indexes pending a deterministic currency check. Verify against the latest Uganda Gazette before relying on it.
Consolidated text
(1) The finances of the Fund shall consist of-
(a) money contributed to the Fund by financial institutions under section 111;
(b) money contributed to the Fund by microfinance deposit-taking institutions under section
111;
(c) grants;
(d) income from investments of the Fund; and
(e) money borrowed by the Board for purposes of the Fund under subsection (3).
(2) The Minister may, by notice in the Gazette, fix the size of the Fund sufficient to protect the interests
of depositors to be made up by the contributions under section 111 and of the Board.
(3) The Board may borrow any such amount as it may require for temporary purposes of making up the
deficiency in the Fund pending collection of contributions.
(4) The Board shall maintain an account with the Bank of Uganda on which the finances of the Fund
shall be deposited.
Source: laws_africa.