This Act may be cited as the Ohai Railway Board Amendment Act, 1935, and shall be read together with and deemed part of the Ohai Railway Board Act, 1932.

The Board may, pursuant to a resolution in that behalf, establish one or more Imprest Accounts which shall as the Board may determine be kept in one or more branches of any bank within the meaning of the Banking Act, 1908.

Each Imprest Account shall be held jointly in the names of and be operated on by a person appointed by the Board as General Manager and one other person to be appointed in that behalf by the Board who shall be either a responsible officer of the Board or a member of the Board.

The Board shall from time to time by resolution fix the maximum amount that may be held at any time in any Imprest Account, but not exceeding such amount as the Audit Office approves.

The moneys in any Imprest Account shall be available only for payment, during any period between ordinary meetings of the Board, of emergency expenditure, as hereinafter defined, of casual wages, and of any expenditure the purposes of which have previously been sanctioned by the Board. A statement of all payments made from any Imprest Account shall be submitted to the Board for approval at its first ordinary meeting thereafter. The payment of moneys out of any Imprest Account for any purpose not hereby authorized shall be deemed to be a misappropriation of the funds of the Board. For the purposes of this subsection the term “emergency expenditure” includes expenditure becoming due and payable by the Board during any period between ordinary meetings of the Board by reason of failure of consignees to take delivery of stock or goods, breakdown of rolling-stock or permanent way, or other unforeseen occurrence, but does not include any sum exceeding twenty pounds.