Law Development Commission, Zimbabwe (b) to refund, wholly or partly, to students any fees paid by them in the event of insolvency of any correspondence college to which such fees have been paid, or in the event of failure by such college for whatever reason to meet its obligations to its students. 46 Independent Colleges Guarantee Fund (1) There is hereby established a fund to be known as the Independent Colleges Guarantee Fund. (2) The moneys of the fund referred to in subsection (1) shall consist of— (a) the fees which have been paid for the benefit of the fund in terms of subsection (2) of section forty-four; (b) any other moneys that may accrue to the fund by way of grants, donations or otherwise. (3) The fund referred to in subsection (1) shall vest in the Minister and shall, subject to his general or specific direction, be applied— (a) to defray any expenses that may be incurred by the Secretary in ensuring that acceptable standards of education are maintained in all registered independent colleges; and (b) to refund, wholly or partly, to students any fees paid by them in the event of insolvency of any registered independent college to which such fees have been paid, or in the event of failure by such college for whatever reason to meet its obligations to its students. 47 Accounts and audit of funds (1) The Minister shall cause proper books of account to be kept in respect of the funds referred to in sectionsforty-five and forty-six in which shall be recorded all the financial transactions relating to the funds concerned. (2) The accounts of the funds referred to in subsection (1) shall be audited by the Comptroller and AuditorGeneral who shall have all the powers conferred upon him by the Audit and Exchequer Act [Chapter 22:03] as though the assets of the funds were public moneys. 48 Variation of scope of registration otherwise than at request of correspondence college or independent college (1) If at any time the Secretary has reason to believe that a registered correspondence college or independent college is no longer able to provide tuition in respect of a qualification, course or subject for which it is registered, he may serve notice upon that college— (a) to engage suitably qualified staff within such reasonable period as he may specify; or (b) to take such other measures as will ensure the provision of adequate tuition; or (c) to show cause why the scope of its registration should not be varied. (2) If a registered correspondence college or independent college has received notice in terms of subsection (1) and fails— (a) to engage suitably qualified staff within the specified period; or (b) to take such other measures as will ensure the provision of adequate tuition; or (c) to satisfy the Secretary why the scope of its registration should not be varied; the Secretary may, subject to section fifty vary the scope of the registration of such correspondence college or independent college so that it complies with the range of qualifications, courses or subjects for which that college is able to provide suitably qualified staff or adequate tuition. 49 Variation of scope of registration at request of correspondence college or independent college The Secretary may, on the application of a registered correspondence college or independent college from time to time, vary the scope of the registration of that college according to the qualifications of the authors or tutors whose services are retained by the college. 50 Cancellation of registration (1) The Secretary shall cancel the registration of a registered correspondence college or independent college— (a) if such college fails to pay the annual registration fee within three months after the date referred to in subsection (1) of section forty-four, or within such further period as the Secretary may in any particular case allow; or (b) if he has reason to believe that such college has ceased to operate as a correspondence college or independent college within Zimbabwe; or (c) if he is directed by the Minister to cancel the registration of such college on the grounds of dishonesty or fraud; or (d) if he has reason to believe that the college no longer provides satisfactory educational services. (2) Before exercising the power conferred upon him by subsection (1), the Secretary shall give to the correspondence college or independent college concerned at least one month's notice in writing of his intention to cancel the registration of such college, and invite from the college within a period specified by the Secretary representations in writing as to why such registration should not be cancelled. (3) The Secretary shall give due consideration to any representations made in terms of subsection (2).