Commercial activities

(1) Every Non-Governmental Organisation registered under this Act may engage in any commercial income- generating project provided that– (a) such project is authorised by its Articles and Memorandum of Association or its By-laws; (b) the monies derived therefrom are credited to its account and are used exclusively for the furtherance of its aims, objects and purposes. (2) Subject to sub-section (3), where any Non- Governmental Organisation registered under this Act is involved in the management and disbursement of monies on credit for projects to individuals or community-based groups, such monies, and any interest derived therefrom, shall not be liable to the taxes, duties and imposts referred to in section 13 (1). (3) Sub-section (2) shall only be applicable where the monies disbursed by the Non-Governmental Organisation and any interest derived therefrom are approved by the Ministry of Finance to be exempt from the taxes, duties and imposts referred to in section 13 (1).