Budget and administrative support of the Investment Committee

(1) For purposes of section 13 (1)(a), the Investment Committee shall prepare an annual budget for each financial year for the Chairperson to submit to the Minister of Finance for the State Budget and the Committee’s budget shall make provision for the hiring of consultants, advisors and other service providers, of sufficient number and necessary skills to support the work of the Committee. (2) Members of the Investment Committee, other than ex- officio members, shall be paid an honorarium from the budget of the Committee in such amount as the Minister shall determine by Order published in the Gazette, subject to negative resolution, and shall not receive any other payment as members except the reimbursement of properly incurred expenses (of a nature determined by the Minister by Order published in the Gazette as being reimbursable expenses, subject to negative resolution) approved by the Minister. (3) The Central Bank shall provide administrative support for the Committee, including budgetary control and the making of contracts (which shall be made subject to public procurement rules and in the name of the Bank). Management Fund 21