18
CAP. 385]
Regional Council
[1986 Ed.
Annual accounts.
Estimates.
13/9052
(b) the establishment of reserves for particular purposes and the procedure to be adopted by the Regional Council in making transfers thereto or therefrom; and
(c) the establishment of a tender board for the procurement of such goods and services as may be determined by the Regional Council.
(3) By-laws made under subsection (2) may contain delegations of the powers mentioned in paragraphs (a) and (b) of section 38(4) but not in excess of a delegation to any member of the Regional Council or to any committee or to any member of any committee or to any sub-committee or to any member of any sub-committee or any public officer of the Regional Council's powers-
(a) to revise from time to time that part of the said estimates which relate to capital works by increasing or reducing the amount of the estimated total cost of any capital work or the amount of the expenditure thereon during the year to which the estimates relate:
(b) to revise any part of the said estimates of expenditure or list of works by authorizing expenditure in respect of any sub-head in excess of the amount provided therefor in the said estimates or list of works (whether originally or as a result of a revision thereof);
(c) to transfer amounts appearing in a sub-head of the said estimates (whether originally or as a result of a revision thereof) to another sub-head thereof,
but limited, where paragraph (a) applies, to an increase or reduction of the amount of the estimated total cost of any capital work by not more than 30 per cent of the amount originally provided, and, where paragraph (b) applies, to excess expenditure of not more than $15,000 where the amount originally provided for a sub-head is less than $50,000 and of not more than 30 per cent of the amount originally provided for a sub-head in any other case. (Amended, 8 of 1986, s. 6)
(4) Every delegation referred to in subsection (3) shall be made in terms which require the person, committee or sub-committee within the period specified in the by-laws to lay before the Regional Council particulars of the exercise of the delegated powers.
40. As soon as may be convenient after the end of each financial year the Regional Council shall cause to be drawn up a statement of receipts and payments during such financial year and a statement of the assets and liabilities of the Regional Council on the last day thereof.
2
41. (1) Not later than 6 months before the end of each financial year the Regional Council shall prepare and furnish to the Governor estimates of its revenue and expenditure for the next financial year together with a list of works which the Regional Council proposes to undertake during the next financial year.