ACT
(Act 17 of 2022)
Act 17 of 2022 .. in force On Order
ARRANGEMENT OF SECTIONS
PRELIMINARY
| 1. | Short title and commencement |
| 2. | Interpretation |
PART I
YOUTH ECONOMY AGENCY
DIVISION 1
Youth Economy Agency
| 3. | Establishment of the Agency |
| 4. | Functions of the Agency |
| 5. | Powers of the Agency |
| 6. | Principal place of business |
| 7. | Tax-exempt status |
| 8. | Policy directions from the Minister |
DIVISION 2
Board of the Agency
| 9. | Constitution of the Board |
| 10. | Designation of the Chairperson and election of the Deputy Chairperson |
| 11. | Term of appointment |
| 12. | Functions of the Board |
| 13. | Powers of the Board |
| 14. | Delegation of functions or powers |
| 15. | Evaluation Committee |
| 16. | Disqualification |
| 17. | Leave of absence |
| 18. | Resignation |
| 19. | Revocation |
| 20. | Vacancy |
| 21. | Temporary appointment |
| 22. | Meetings |
| 23. | Co-opting |
| 24. | Quorum |
| 25. | Declaration of interest and abstention from voting |
| 26. | Minutes of a meeting |
| 27. | Decisions of the Board |
| 28. | Seal |
| 29. | Signification of other documents |
| 30. | Service of documents |
| 31. | Board to regulate its own procedures |
| 32. | Remuneration |
DIVISION 3
Appointment of the Chief Executive Officer and Employees of the Agency
| 33. | Appointment of the Chief Executive Officer |
| 34. | Functions of the Chief Executive Officer |
| 35. | Delegation of functions |
| 36. | Employees of the Agency |
| 37. | Oath of secrecy and confidentiality |
| 38. | Protection from liability |
DIVISION 4
Finances of the Agency
| 39. | Revenue of the Agency |
| 40. | Management of finances and application of revenue |
| 41. | Borrowing, guaranteeing and other contingent liabilities |
| 42. | Estimates of revenue and expenditure |
| 43. | Strategic, financial, operational and business plan |
| 44. | Accounts and audit |
| 45. | Quarterly and annual reports |
PART II
YOUTH ECONOMY PROGRAMME
| 46. | Application for Youth Economy Programme |
| 47. | Due diligence checks |
| 48. | Approval or refusal of application |
| 49. | Obligations under the Youth Economy Programme |
| 50. | Discontinuation of the Youth Economy Programme |
PART III
TAX RELIEF AND EXEMPTIONS
| 51. | Application for an approved youth economy project |
| 52. | Supporting information |
| 53. | Compliance |
| 54. | Determination |
| 55. | Order by the Minister |
| 56. | Failure to comply with conditions |
| 57. | Monitoring of compliance |
PART IV
MISCELLANEOUS
| 58. | Fees |
| 59. | Guidelines |
| 60. | Amendment of Schedules |
| 61. | Regulations |
| Schedule 1 | |
| Schedule 2 | |
AN ACT to provide young people an economic space to turn hobbies into entrepreneurship and skills into businesses, to establish the Youth Economy Agency, for the Youth Economy Programme; to facilitate the development of a youth economy project and provide special incentives and for related matters.
Commencement [On Order]