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PART 1N.I.FINANCIAL ADMINISTRATION

ReservesN.I.

Reserves - generalN.I.

6—(1) Regulations may make provision requiring a council to maintain financial reserves in accordance with the regulations.

(2) The chief financial officer of a council shall submit to the council a report on the adequacy of any proposed financial reserves for a financial year.

(3) A council shall have regard to that report when considering the estimates for that year under section 3(2)(a).

Commencement Information

I1S. 6 in operation at 1.4.2012 by S.R. 2011/306, art. 2(3)