Application of the funds of the Corporation and submission of budget estimates

(1) The funds of the Corporation shall, with the consent of the Minister responsible for Finance, be applied towards, (a) the payment of the cost of acquisition of any land or building for the purposes of this Act; (b) the purchase, construction, maintenance and replacement for the purposes of this Act of any processing equipment; (c) the payment of the rent of premises used by the Corporation in the carrying on of its business; (d) the payment of all rates, taxes and insurance on any land, building or other property or revenue acquired by the Corporation; (e) the payment of all expenses duly incurred for the purposes of this Act; (f) the purchase of products of Belize; Belize Marketing and Development Corporation 17 (g) the purchase of equipment; (h) the purchase of stocks of commodities for sale to producers to facilitate their operations or for use in the processing of products of Belize; (i) the repayment of advances received or other sums borrowed by or deposited with the Corporation and the payment of interest thereon; (j) loans to aid producers; (k) the creation of a fund for depreciation under such conditions as the Board of Directors of the Corporation shall prescribe; (l) the creation of such reserve funds as the Board of Directors of the Corporation may consider sufficient; (m) the purposes of this Act. (2) The Corporation shall, in such form and by such dates as may be prescribed by the Financial Secretary, prepare and submit to the Minister responsible for Finance, through the Minister responsible for the Corporation, estimates of income receivable and the expenditure to be incurred during each financial year (including any supplementary estimates), and the Minister responsible for Finance shall present the said estimates to the National Assembly with such amendments, if any, as he may consider necessary.