TELECOMMUNICATIONS ACT 1975 No. 55 of 1975 - SECT 76 Surplus revenue.

TELECOMMUNICATIONS ACT 1975 No. 55 of 1975 - SECT 76

76. (1) For the purposes of this Act, the surplus of the Commission in a
financial year is the amount (if any) of revenue remaining-

   (a)  after meeting the expenditure and the provision for expenditure
        properly chargeable to that revenue; and

   (b)  after providing for expenditure by the Commission by way of capital
        expenditure, an amount equal to one-half of the amount ascertained in
        accordance with the formula specified in paragraph 73 (1) (b).

(2) The surplus of the Commission for a financial year shall be applied in
such manner as the Minister determines.

(3) In making a determination under sub-section (2), regard shall be had to
any advice that the Commission has furnished to the Minister in relation to
the financial affairs of the Commission.

(4) For the purposes of this section, the provision for expenditure properly
chargeable to the revenue received or receivable in respect of a financial
year has the same meaning as in section 73.