108 Telecommunications Act 2005 2005, No.20 (b) the basic telecommunications services to be included in universal access obligations; (c) the geographical areas in which specified levels of universal access should be achieved; and (d) the costs of the universal access service obligations. (4) In preparing a universal access policy, the Regulator shall ensure that any universal access obligations of service providers: (a) are administered in a transparent, non-discriminatory and competitively neutral manner; and (b) are bit more burdensome than necessary for the universal access objectives to be achieved. (5) The Regulator shall consult with interested parties when preparing a universal access policy. (6) Part III of the Public Bodies (Performance and Accountability) Act 2001 relating to Community Service Obligations shall not apply to Part IV of this Act 21. Universal Access Fund-(1) Following approval of a universal access policy, the Minister, by notice in writing, may establish a Universal Access Fund to be used to subsidize the net costs of providing universal access. (2) A Universal Access Fund established under this section shall be administered by the Regulator and in accordance with any financial and administrative directors issued in writing by the Chief Executive Officer of the Ministry of Finance. (3) The Universal Access Fund shall be operated out of a separate account from the Ministry or the operational accounts of the Regulator. (4) Subject to subsection (5), where the Minister has established a Universal Access Fund under subsection (1), the Minister, by notice in writing from time to time, shall: (a) Require all licencees to contribute to the Fund; and (b) Determine the contribution obligations of licencees and the disbursement procedures of the Fund. (5) The disbursement procedures of the Universal Access Fund shall be competitively neutral and market-oriented.