Cap. 628 Art. 15Estimates and expenditure.

(1) The Chief Executive Officer shall, not later than sixteen (16) weeks before the end of each financial year, submit to the Board of the Authority estimates of the income and expenditure of the Authority for the following financial year.

(2) In the preparation of such estimates the Authority shall endeavour to ensure that the sums to be allocated to the Authority are at least sufficient to meet all sums properly chargeable to its income and expenditure accounts including, but without prejudice to the generality of that expression, depreciation.

(3) The estimates shall be made out in such form, and shall contain such information, and such comparisons with previous years, as the Board may direct.

(4) Not later than three (3) weeks from the receipt of such estimates from the Chief Executive Officer, the Board shall consider such estimates and shall transmit the same with or without amendments to the Minister for his approval.

(5) Before the end of the financial year, the Minister shall approve and adopt such estimates with or without amendments.

(6) If in respect of any financial year it is found that the amount so approved is not sufficient or a need has arisen for expenditure for a purpose not provided for in the estimates, the Chief Executive Officer shall cause supplementary estimates to be prepared and to be sent forthwith to the Board for transmission to the Minister for his approval, and in any such case the provisions of this article shall as far as practicable apply to the supplementary estimates.