Section 3: Financial provisions.

1 The Council shall prepare and submit to the Minister not later than the 31st day of December of the year in which this subsection comes into force (so however for that year the Minister may, if he considers it necessary, extend the period) and of each subsequent year, an estimate of its expenditure and income during the next succeeding financial year.

2 The Council shall keep proper records in respect of each financial year, and proper records in relation to those accounts, and shall cause its accounts to be audited as soon as may be after the end of the financial year to which the accounts relate by a firm of auditors approved, as respects that year by the Minister for Finance.