DGHC Act 54Chapter V · Funds and Audit

Section 54 · Budget

(1)

The General Council shall, at such time and in such manner as may be prescribed, prepare in each financial year a budget of its estimated receipts and disbursements for the following financial year and submit it to the Government by the 1st November of the current financial year.

(2)

The Government may, within such time as may be prescribed, either approve the budget or return it to the General Council for such modifications as it may direct. On such modifications being made the budget shall be re-submitted within such time as may be prescribed for approval of the Government. If the approval of the Government is not received by the General Council by the last date of the financial year, the budget shall be deemed to have been approved by the Government.

(3)

No expenditure shall be incurred unless the budget is approved by the Government.

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