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Questions and Answers
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 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 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 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.
True or false: The Local Authority Fund can only be invested in securities.
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True or false: The local authorities have complete command and control over the property vested in them by virtue of this Act.
True or false: The local authorities have complete command and control over the property vested in them by virtue of this Act.
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