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General duty of IANS
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16. (1) It shall be the general duty of the IANS—
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(a) to conduct its affairs so as to ensure that the revenues of the IANS are not less than sufficient taking one year with another to—
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(i) meet all charges and costs which are properly chargeable to its revenue account,
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(ii) generate the capital it requires, and
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(iii) remunerate its capital and pay interest on and repay its borrowings,
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and
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(b) to conduct its business at all times in a cost-effective and efficient manner.
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(2) Nothing in section 14 or subsection (1) shall be construed as imposing on the IANS, either directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which it would not otherwise be subject.
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(3) (a) The Minister may direct in writing the IANS to pay a dividend to the Exchequer of an amount determined by him or her and the IANS shall comply with the direction (including any period specified in the direction within which the dividend is required to be so paid).
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(b) The Minister may give the Board such general directives concerning the financial objectives of the Board as he or she considers appropriate and the Board shall, in performing its functions, have regard to such directives.
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