TRANSPORT ADMINISTRATION ACT 1988 - SECT 81
Financial duties of the Authorities
TRANSPORT ADMINISTRATION ACT 1988 - SECT 81
Financial duties of the Authorities
81 Financial duties of the Authorities
(1) It is the duty of each Authority, in the exercise of its functions, to
operate as efficiently and economically as possible and, in particular--
(a)
to exercise efficiency and economy in incurring expenditure, and
(b) to
manage its financial affairs in such a manner as not to incur commitments
involving expenditure beyond levels that can be met from the expected
financial resources of the Authority.
(2) It is the duty of each Authority to
submit to the Treasurer, in such manner and at such times as the Treasurer
specifies--
(a) detailed estimates of its revenue from all sources and its
expenditure proposed for any period specified by the Treasurer, and
(b) such
other information relating to the financial affairs of the Authority as the
Treasurer requests.