PART V UNIVERSAL ACCESS 22. Universal Access Policy (1) After consultation with service providers, the LTA may propose, and the Minister may approve, a policy setting out specific objectives and related principles and service obligations relating to the provision of universal access to telecommunications services in Liberia. (2) In proposing a universal access policy, and in any implementation of that policy once approved by the Minister, the LTA shall consider: (a) the objectives for the development of universal access; (b) the basic telecommunications services to be included in universal access offerings; (c) the geographical areas in which specified levels of universal access should be achieved; and (d) the costs of the universal access service obligations. (3) In implementing a universal access policy approved by the Minister the LTA shall also ensure that any universal access obligations of service providers: (a) are administered in a legally transparent, non-discriminatory and competitively neutral manner; and (b) are not more burdensome than necessary for the universal access objectives to be achieved. (4) The LTA shall consult with service providers and other interested parties when preparing a universal access policy. 23. Universal Access Fund (1) Following approval of a universal access policy the Minister may approve a regulation prepared by the LTA to establish a Universal Access Fund to be used to subsidize, in whole or in part, the net costs of providing universal access. (2) An account called the Universal Access Fund shall be established as an “Escrow Account” in a registered and recognized bank in Liberia. Any disbursement from the Universal Access Account shall be in line with the Universal Access Policy and shall meet the approval of the Legislature. (3) Operation of the Universal Access Fund shall be subject to specific reporting, accounting and audit requirements established by the Ministry of Finance; and to include budget approval process to the Legislature established by other laws.