Cap. 643 Art. 17Estimates of the Authority.

(1) The Authority shall cause to be prepared in every financial year, and not later than six (6) weeks after the end of every such year, shall adopt estimates of the income and expenditure of the Authority for the following financial year:

Provided that the estimates for the first financial year of the Authority shall be prepared and adopted within such period as the Minister may by notice specify in writing to the Authority.

(2) In the preparation of such estimates, the Authority shall take account of any funds and other monies that may be due to be paid to it out of the Consolidated Fund during the relevant financial year, whether by virtue of this Act, or an appropriation Act, or of any other law, and the Authority shall so prepare the said estimates as to ensure that the total revenues of the Authority are at least sufficient to mete all amounts properly chargeable to its revenue account 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 comparison with previous years as the Minister responsible for finance may direct.

(4) A copy of the estimates shall, upon their adoption by the Authority, be sent forthwith by the Authority to the Minister and to the Minister responsible for finance.

(5) The Minister shall, at the earliest opportunity and not later than six (6) weeks after he has received a copy of the estimates from the Authority, approve the same with or without amendments after consultation with the Minister responsible for finance.