(1)The Electoral Commission must, before the start of each financial year—
(a)prepare an estimate of the Commission's expenditure for the year that is attributable to the carrying out of their functions under this Act, and
(b)send the estimate to the SPCB for approval.
(2)The Commission may, in the course of a financial year, prepare a revised estimate for the remainder of the year and send it to the SPCB for approval.
(3)The period from the commencement of this Act until the following 31 March is treated, for the purposes of this section, as the first financial year.
(4)Subsection (1) has effect in relation to the first financial year as if the reference to the start of the financial year were a reference to the end of the period of one month beginning with the date of the commencement of this Act.
(5)In the 2000 Act, in Schedule 1, paragraph 14(2) (Commission to prepare estimates of income and expenditure) does not apply in relation to income and expenditure of the Commission that is attributable to the exercise of their functions under this Act.