Accounts.
Audis.
Report, etc. to be laid on the tabla of tho Legisladva Council, and published.
LO
(4) Notwithstanding the approval of the Governor of the estimates of the Council, the Council may at any time or from time to time- (a) transfer from its unallocated balances or surpluses (if any) shown in its estimates to any major head of expenditure or from any major head or heads of expenditure to any other major head of expenditure a sum not exceeding or sums in the aggregate not exceeding twenty per cent of the amount approved for the major head to which such sum is or sums are transferred; and
(b) transfer any sum or soms, without restriction, from any sub- head to any other sub-head within the same head of expendi-
ture.
but save as permitted by paragraph (2) no sum shall be transferred to any major head of expenditure without the approval of the Governor.
(5) The Council may expend on any major head of expenditure or on any sub-head thereof only such sums as have been approved therefor by the Governor (and not transferred to any other major head or sub-head) and such sums as have been transferred thereto under subsection (4).
23. (1) The Council shall keep proper accounts of all income and expenditure and shall maintain proper and adequate records thereof.
(2) As soon as may be convenient after the end of each financial year the Council shall cause to be drawn up a statement of income and expenditure during such financial year and a statement of the assets and liabilities of the Council on the last day thereof.
24. (1) The Council shall appoint auditors who shall be entitled at any time to have access to all books of account, vouchers and other financial records of the Council and to require such information and explanations thereon as they think fit.
(2) The auditors shall audit the statements drawn up under sub- section (2) of section 23 as soon as possible and shall make a report thereon to the Council.
25. (1) The Council shall as soon as possible after the end of each financial year, but not later than six months after the end of each financial year or such longer period as the Governor may as to any particular year allow, make to the Governor a report on its activities and shall transmit to the Governor therewith copy of the statements drawn up under subsection (2) of section 23 and the report made under subsection (2) of section 24 and shall publish such reports and state-
ments.
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(2) The Governor shall cause to be laid on the table of the Legis- lative Council the reports and statements received by him under sub- section (1).
Cunds.
26. All funds of the Council that are not immediately required Lavelment shall be deposited on fixed deposit in any bank or savings bank of surplus nominated by the Financial Secretary, either generally or in any partic- ular case, for that purpose, or, subject to the prior approval of the Financial Secretary, shall be invested in such investments as the Council thinks fit.
This printed impression has been carefully compared by me with the Bill which passed the Legislative Council on the 28th day of September, 1956, and is found by me to be a true and correctly printed copy of the said Bill.
(Secretariat CR117/65)
Deputy Clerk of Councils.
No comments yet.
Private notes are available after approval.