The Industrial Property Act, 2001 13 (b) a statement of the assets and liabilities of the Institute on the last day of that year. Cap. 412 (3) The accounts of the Institute shall be audited and reported upon in accordance with sections 29 and 30A of the Exchequer and Audit Act, by the Auditor-General (Corporations), or by an auditor appointed by the Board with the approval of the Auditor-General (Corporations) given in accordance with section 29 (2)(b) of the Exchequer and Audit Act. Investment of funds 20. (1) The Board may invest any of the funds of the Institute in securities in which for the time being trustees may by law invest trust funds, or in any other securities which the Treasury may, from time to time, approve for that purpose. (2) The Board may place on deposit with such bank or banks as it may determine, any monies not immediately required for the purposes of the Institute. PART III - PATENTS: PATENTABILITY Meaning of “invention” 21. (1) For the purposes of this Part, “invention” means a solution to a specific problem in the field of technology. (2) Subject to subsection (3), an invention may be, or may relate to, a product, or a process. (3) The following shall not be regarded as inventions and shall be excluded from patent protection: (a) discoveries, scientific theories and mathematical methods; (b) schemes, rules or methods for doing business, performing purely mental acts or playing games; (c) methods for treatment of the human or animal body by surgery or therapy, as well as diagnostic methods practised in relation thereto, except products for use in any such methods; (d) mere presentation of information; and (e) Public Health related methods of use or uses of any molecule or other substances whatsoever used for the prevention or treatment of any disease which the Minister responsible for matters relating to health may designate as a serious health hazard or as a life threatening disease. Patentable inventions 22. An invention is patentable if it is new, involves an inventive step, is industrially applicable or is a new use. Novelty 23. (1) An invention is new if it is not anticipated by prior art.