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There shall be paid from the funds of the
Commission-
(a) the salaries, allowances and loans
of the staff of the Commission;
(b) such reasonable travelling,
transport and subsistence allowances for the
members and members of any committee of the
Commission when engaged in the business of the
Commission, and at such rates as the
Commission may determine; and
(c) any other expenses incurred by the
Commission in the performance of its
functions.
(4) The Commission
may invest in such manner as it thinks fit
such of its funds as it does not immediately
require for the performance of its functions.
14. The financial year of the
Commission shall be the period of Financial
twelve months ending on 31st December in each
year.
15. (1) The Commission shall cause to
be kept proper books of account and
other records relating to its accounts.
(2) The accounts of
the Commission shall be audited annually by
independent auditors appointed by the
Commission.
(3) The auditors' fees shall be paid by the
Commission.
16. (1) As soon as is practicable, but
not later than ninety days after the end of
the financial year, the Commission shall
submit to the President a report concerning
its activities during the financial year.
(2) The report
referred to in subsection ( I) shall include
information on the financial affairs of the
Commission and there shall be appended to the
report-
(a) an
audited balance sheet;
(b) an
audited statement of income and expenditure;
and
(c) such
other information as the President may
require.
(3) The President
shall, not later than seven days after the
first sitting of the National Assembly next
after receipt of the report referred to in
subsection (1), cause the report to be laid
before the National Assembly.
17. (1) On the commencement of this
Act, all property, assets, l rights,
liabilities and obligations of the Government
attaching to or provisions in the possession
of the department of Government dealing with
elections, shall vest in the Commission.
(2) Any
proceedings or cause of action instituted or
pending by or against the Government
concerning or in relation to the
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