Operational Accounts for withdrawals from the Flexible Transfer Account

(1) Moneys in the Flexible Transfer Account appropriated in accordance with the provisions of section 14 of this Act, shall immediately be transferred to the following account that the Central Bank shall open in Belizean dollars, one each in the name of, (a) the Accountant General, to be styled “The Fund Accountant General Account”, and to be used for general funding requirements of the Government, with priority to the budget of the Public Information Office, and, where required by law and subject to Section 33(a) of this Act, payment of audit adjustments determined in section 33; of the Act; (b) the Investment Committee, to be styled “The Fund Account”, and to be used for the budget of the (c) the Independent Oversight Board, to be styled “The Petroleum Fund Independent Oversight Board Account”, and to be used for the budget of the Independent Oversight Board Account, including meeting the costs and expenses of the Public Information Office as provided in section 28(2) of this Act. 26 Management Fund (2) The respective accounts mentioned in subsection (1) (a) (b) and (c) of this section, may be operated only on the written instructions of such persons as are authorized by, respectively the Accountant General, the Chairperson of the Investment Committee, and the Chairperson of the Independent Oversight (3) The respective accounts mentioned in subsection (1) (a) (b) and (c) of this section, are not to be credited with an amount in a financial year greater than that which corresponds, respectively, to the appropriations approved for the financial year concerned for general funding requirements of the Government to be met from the Fund for the Investment Committee and for the Independent Oversight Board. (4) The Financial Secretary may, after the end of each financial year, instruct the Central Bank to transfer to the Permanent Restricted Account any moneys in the Flexible Transfer Account which, at the end of that financial year were not utilized as appropriated, and he shall promptly provide a true and fair copy of the instruction to the Public Information Office.