53 {e) givereasons in writing for any determination or decision and substantiate such determination or decision with reference to the objectives in section 3, its functions and powers, and the factors in section 21. Division 4 — Finance of the Authority 23. Funds of the Authority The funds of the Authority consist of moneys appropriated by Parliament to the Authority, and such funds are to be expended for the purposes of any functions or powers under this Promulgation. Charges and fees 24.—(1) The Authority may determine the following charges or fees— (a) charges for services rendered by it in the performance of its functions or the exercise of its powers under this Promulgation; (b) fees for any application required under this Promulgation or for the supply or making copies of documents; (c} annual charges for licence fees to be calculated based on a percentage of audited annual gross revenue calculated net of settlements with other licensees in Fiji provided that such variable fees must not exceed a prescribed percentage of annual gross revenue and must not be below a prescribed minimum levy based on the type of service to be provided by the licensee; and (d) other fees and charges for the administration of State assets such as numbering and radio spectrum. (2) Any charges and fees determined and levied under this section shall— (a) be assigned on a non-discriminatory and proportionate basis; (6) (c) be published by the Authority in its website or other form as it thinks fit; and be set to cover the Authority’s and the Tribunal’s budgeted costs of performing their functions and exercising their powers in the following year. (3) The Authority must levy and collect such charges and fees within 3 months of such determination and pay them to the Consolidated Fund. (4) Any such charges and fees are payable by licensees and if remain unpaid constitute a debt which may be recovered in court. 25.—(1) capital. Power to borrow The Authority must not borrow fund except for an overdraft facility for the purpose of working {2) The Authority must first seek the approval of the Minister responsible for Finance before seeking an overdraft facility under subsection (1). 26.—(1) Annual report and accounts The Authority must, in accordance with the prescribed procedures, cause ‘to be prepared an annual Teport of its activities during the previous financial year containing the following— (a) an outline of its performance of its functions and exercise of its powers, including an assessment of its (b) (c) (d) (e) (f) (g) (h) (i) Gj) progress in achieving the objectives in section 3; a review of licences issued, modified, suspended or revoked; areview of matters referred to the Commerce Commission; areview of frequency spectrum usage, including spectrum licences issued; areview of numbers allocated and assigned; areview of its activities and progress in respect of universal services; areview of material determinations made under section 18; areview of investigation and enforcement action taken; areview of major agreements entered into with the Authority; other relevant matters.