Section 58 Federal Competition and Consumer Protection Act 2018

Section 58 of the Federal Competition and Consumer Protection Act 2018 is about Funding of the Tribunal. It is under Part VII (The Competition and Consumer Protection Tribunal) of the Act.

(1) The Tribunal shall establish and maintain a fund, which shall be applied towards the performance of its functions under this Act.

(2) There shall be paid and credited into to the Fund established under subsection
(1)-
(a) annual subventions and budgetary allocations from the Federal Goverrunent with respect to recurrent and capital expenditures; and

(b) fees collected for services rendered by the Tribunal under this Act, and such other sums of money as may be provided by the Federal Government for the Tribunal.

(3) The Tribunal shall, at the end of each financial year, submit its budget for the following year to the Minister.

(4) The Minister shall ensure that adequate budgetary provision is made for the payment of emoluments and allowances of members and staff of the Tribunal including all other expenditures of the Tribunal for the efficient discharge of the duties and responsibilities of the Tribunal under this Act.