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112.(1) The Council shall prepare and submit to the Ministry, on or before such date in each year as the Ministry may determine and in such form and containing such particulars as the Ministry may require, estimates of its receipts and payments for the succeeding financial year, and the Ministry may approve the estimates in whole or in part or with such modifications as, after consultation with the Council, it thinks fit. (2) The expenditure of the Council shall be in accordance with estimates approved under paragraph (1), but where the Ministry is satisfied that any expenditure not provided for by the estimates has been, or will be, reasonably and properly incurred in any financial year, the Ministry may sanction such expenditure notwithstanding that it is not provided for by the estimates. (3) The estimates prepared by the Council under paragraph (1) shall show separately the estimated receipts and payments of the Council, the G.C.E. Board and the C.S.E. Board. (4) In any financial year any excess of receipts over payments by the G.G.E. Board or, as the case may be, by the C.S.E. Board shall be paid to the Council, and the Council shall pay to each of those boards any sum by which that board's receipts fall short of its payments provided for in estimates approved under paragraph (1) or sanctioned under paragraph (2).
© 1972 Crown Copyright
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