LAGOS STATE EMPLOYMENT TRUST FUND LAW

LAWS OF NIGERIA/LAGOS STATE AVAILABLE AS A COMPENDIUM. EMAIL: lawnigeria@gmail.com or info@lawnigeria.com or Text/WhatsApp +23407067102097

LIST OF LAWS OF LAGOS, [ALPHABETICAL]  

LAGOS STATE EMPLOYMENT TRUST FUND ACT

ARRANGEMENT OF SECTIONS

1.       Interpretation

2.       Establishment of the Lagos State Employment Trust Fund

3.       Objectives of the Fund

4.       Establishment of the Board of Trustees

5.       Composition of the Board

6.       Functions of the Board of Trustees.

7.       Tenure of Office

8.       Cessation of Membership

9.       Remuneration.

10.     Meetings of the Board

11.     Quorum

12.     Seal

13.     Committee(s) of the Board

14.     Power to Co-opt

15.     Voting

16.     Source and Allocation of the Fund

17.     Eligibility

18.     The Executive Secretary

19.     Staff of the Board.

20.     Pension Rights.

21.     Disclosure of Interest.

22.     Transparency

23.     Account and Audit of the Board

24.     Annual Report

25.     Power to make Regulations

26.     Exemption of the Fund from Tax

27.     Restriction on Execution.

28.     Representation of the Board

29.     Offences and Penalties

30.     Citation

LAGOS STATE EMPLOYMENT TRUST FUND ACT

A Law to provide for the Establishment of the Lagos State Employment Trust Fund and a Board Of Trustees to manage the Fund and for connected purposes

(Commencement)                                                           [2016]

THE LAGOS STATE HOUSE OF ASSEMBLY enacts as follows:

Interpretation

1.       In this Law, unless the context otherwise requires—

“Board” means the Board of Trustees established under this Law;

“Beneficiaries” means residents of the State who are interested in starting or expanding their businesses or interested in skill acquisition or re-skilling;

“Commissioner” means the Commissioner or other member of the State Executive Council in charge of Wealth Creation and Employment;

“Entrepreneur” means a person who operates a business venture and assumes the associated risk;

“Ex-Officio members” means employees of the State appointed as members of the Board

“Financial year” means that period of twelve (12) months as may be adopted as financial year by the State Government.

“Fund” means the Lagos State Employment Trust Fund established under this Law;

“Governor” means the Governor of Lagos State;

“State” means Lagos State of Nigeria.

Establishment of the Lagos State Employment Trust Fund

2.       There is established a Fund to be known as the Lagos State Employment Trust Fund (referred to in this Law as “the Fund”), which shall be the depository of all monies received under this Law.

LAWS OF LAGOS STATE

LAWS OF THE FEDERAL REPUBLIC OF NIGERIA