5 Questions
True or false: The local authorities are required to deposit any funds received in relation to the Local Authority Fund into a bank account.
True
True or false: The Local Authority Fund is established to hold all property vested in a local authority.
True
True or false: The Minister of Finance has the authority to authorize the use of the Local Authority Fund for any purpose.
True
True or false: The Local Authority Fund can only be invested in securities.
False
True or false: The local authorities have complete command and control over the property vested in them by virtue of this Act.
True
Test your knowledge on local authority funds and their control with this quiz. Explore the legal provisions governing the transfer of property and funds to local authorities, including the establishment of a new fund.
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