in accordance with an annual implementation plan prepared by the Commission in consultation with mass media editors’ offices. 45 Moneys of Fund The Fund shall consist of— (a) such moneys as may be raised by levies imposed in terms of section forty-six; (b) such moneys as may be payable to the Fund from moneys appropriated by an Act of Parliament for the purpose of the Fund; and (c) any surplus of income over expenditure at the end of the Commission’s financial year appropriated in terms of paragraph 3 of the Fifth Schedule; (d) any other moneys to which the Fund may be lawfully entitled; and (e) accreditation fees. 46 Levies (1) Every mass media owner, other than a broadcasting licensee as defined in the Broadcasting Services Act [Chapter 12:06], shall pay the prescribed annual levy to the Fund. (2) The dates on which the levies to the Fund become payable and the manner in which they shall be paid shall be as prescribed. (3) Where any mass media owner fails to pay the whole or any part of a levy within seven days after the date when it is due to the Fund the owner shall be liable to pay to the Fund an amount equivalent to double the levy due. (4) The Commission may, by action in a competent court, recover the amount of a levy or penalty payable in terms of this section. 47 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of Fund (1) All moneys received on behalf of the Fund shall be paid into a banking account and no money shall be withdrawn therefrom except by means of cheques signed by such persons as are authorised in that behalf by the Commission. (2) Any part of the Fund not immediately 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 invested directly in any securities issued by a mass media editor’s office that is a corporate body. 48 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. 49 Accounts and audit of Fund (1) The Commission shall cause proper books of accounts of the Fund to be kept, together with adequate financial and other records in relation thereto, and, within three months after the end of the financial year to which the accounts relate, shall submit the accounts to the Comptroller and Auditor-General for audit in terms of subsection (2). 23