Article 8
Trust accounts
of Constitutional Matters III - Constitution (Financial Procedure) Order
(1)
The Treasury may establish such trust accounts as may be deemed necessary for the proper accounting of moneys in the Consolidated
Trust Account.
(2)
The following moneys shall be paid to the credit of the trust account to which they relate —
Constitution (Financial Procedure)
Order 12
(a)
all moneys appropriated for the purposes of any trust account;
(b)
all moneys received from the sale to any person or department of any articles purchased or produced, or for work paid for, with moneys standing to the credit of a trust account;
(c)
all moneys paid by any person for the purpose of any trust account; and
(d)
income as provided in subsections (4) and (4A) of section 7.
(3)
Subject to any written law and any trust, the Treasury shall, in respect of any such account or class of accounts, specify the persons by whom and the manner in which such account or class of accounts shall be controlled.
(4)
Subject to any written law and any trust, the Treasury may direct that any trust account shall be closed and thereupon, after all liabilities of the account have been met, the account shall be closed accordingly.
(5)
Subject to any written law and any trust, the Treasury may direct that any moneys standing to the credit of any trust account which are not required for the purposes of that account and the balance of moneys standing to the credit of a trust account closed under subsection (4) shall be paid as provided in subsection (6).
(6)
Where any moneys are required in accordance with subsection (5) to be paid, such moneys shall, to such extent as they were appropriated out of moneys standing to the credit of the Consolidated Loan
Account, be paid to the Consolidated Loan Account and the balance shall be paid to the Consolidated Revenue Account.