Section 13: Accounts
consolidated text (as amended). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
13. Accounts
(1) The financial year of SUBEX-M shall end on 30 June in every year.
(2) The Director shall—
(a) keep the accounts of SUBEX-M;
(b) be answerable to the Committee for all financial transactions; and
(c) receive and disburse money on behalf of SUBEX-M.
(3) The Committee shall, 3 months before the end of its financial year,
draw up an estimate of the income and expenditure for the next financial
year and submit it to the General Assembly for approval.
(4) The Committee shall not, without the approval of the General Assembly, incur expenditure in excess of the amount specified in the approved estimate of expenditure for any year.
(5) All accounts and books of SUBEX-M shall, once a year and within one
month after the end of the financial year, be audited by 2 auditors appointed
at the General Assembly.