Financial Estimates

(1) The Executive Council shall, before such date as may be prescribed by the Regulations, prepare the financial estimates for the next year and place them before the General Council. (2) The Executive Council may incur expenditure from such amount as has been provided in the budget, or in case of extreme urgency, may incur expenditure for reasons to be recorded and subject to such constraints and conditions as specified in the regulations; where no provision has been made in the budget in respect of such excess expenditure, a report shall be made to the General Council in its next meeting.