29 Establishment and vesting of Broadcasting Fund (1) There is hereby established a fund to be known as the Broadcasting Fund. (2) Subject to this Part, the Fund shall be vested in and administered by the Authority as trustee. 30 Objects of Fund The objects of the Fund shall be— (a) the standardisation of broadcasting services and the maintenance o f high standards of quality in the provision of such services; and (b) to make grants to local authorities or thei r appointed agents for the purpose of assisting needy persons to obtain access to broadcasting services; and (c) to finance or assist in financing the extens ion of broadcasting services to under-serviced areas and community centres within or outside such areas; and (d) to assist in the training of persons in the provision of broadcasting services; and (e) to promote or contribute towards research and development in the field of broadcasting services; and (f) to promote and contribute towards the expenses of the adaptation or facilitation of the use of broadcasting services for the benefit of disabled persons; and (g) to encourage and facilitate, for the benefit of Zimbabwe, the transfer of broadcasting technology from foreign providers of such technology; and (h) to provide grants to encourage the growth of the Zimbabwean creative arts industry for the purpose of enabling the film and music industry to supply material to meet the local content obligations of broadcasting licensees; and (i) to provide financial assistance to deservi ng persons for their training in broadcasting or the creative arts; in accordance with an annual implementa tion plan prepared by the Authority in consultation with licensees. 31 Moneys of Fund The Fund shall consist of— (a) such monies as may be raised by contri butions imposed in terms o f section thirty-two; and (b) such moneys as may be payable to the Fund from moneys appropriated by Act of Parliament for the purpose of the Fund; and (c) any surplus of income over expenditure at the end of the Authority’s financial year appropriated in terms of paragraph 3 of the Fourth Schedule; and (d) any other moneys to which the Fund may be lawfully entitled. 32 Levies (1) Every licensee shall pay the prescribed annual levy to the Fund. (2) The dates on which the levies to the Fund become paya ble and the manner in which they shall be paid shall be as prescribed. (3) Any person who fails to pay a levy due to the Fund sh all in addition to any othe r penalty imposed for non-compliance with this Act, be liable to :— (a) the suspension of his licence ; or (b) pay to the Fund an amount equivalent to double the levy due. 33 Holding of Fund (1) All moneys received on behalf of the Fund shall be paid into a banking account and no money shall be withdrawn there from except by means of cheques signed by such persons as are authorised on its behalf by the Authority. (2) Any part of the Fund not immediatel y required for the purposes of the Fund may be invested in such manner as the Minister may determine: Provided that such moneys shall not be inve sted directly in any securities issued by a licensee that is a corporate body. 34 Financial year of Fund The financial year of the Fund shall be the period of twelve months ending on the 31st December in each year.