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(1)Every local authority shall have a finance committee whose duties shall include—
(a)advising the authority on financial matters;
(b)subject to the directions of the authority, supervising the recovery of moneys due to the authority and generally the whole financial arrangements of the authority; and
(c)exercising such other functions as are by this Act or any other enactment or any statutory order imposed on the finance committee.
(2)Subject to the provisions of this Act, the finance committee of every local authority existing at the commencement of this Act shall be the finance committee of the authority, and any local authority having no such committee at the commencement of this Act shall appoint such a committee within six weeks after the commencement of this Act.
(3)Subject to the provisions of this Part of this Act, of any administrative scheme thereunder and of section eighty-six of the Education (Scotland) Act, 1946, every local authority shall make provision by standing orders or otherwise with respect to the matters standing referred to the finance committee and the functions of the authority delegated to that committee.
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