Section 5: Financial provisions.

(1) The Council shall prepare and submit to the Minister, not later than the 30th day of July of the year in which this Act comes into force and of each subsequent year, an estimate of its expenditure and income during the next succeeding financial year.
(2) The Council shall keep proper accounts 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 respect that year, by the Council.
(3) The Minister shall out of moneys provided by the Federal Government, make to the Council either by way of grant or by way of loan, payments of such amounts as the President may from time to time determine.