8(1)There shall be paid by the Regulator out of money provided by Parliament—
(a)any sums payable to or in respect of any person under paragraph 2, 3 or 7 above; and
(b)any expenses incurred by the committee in accordance with any statement approved under sub-paragraph (3) below.
(2)The committee shall prepare and send to the Regulator not less than two months, or such other period as the Regulator may specify, before the beginning of each financial year a statement of the expenses which they expect to incur in respect of that year for the purposes of, or in connection with, the carrying out of their functions.
(3)The Regulator shall consider any statement sent to him under sub-paragraph (2) above and shall either approve the statement or approve it with such modifications as he considers appropriate.