SCHEDULE 2The Delivery Authority
Statement of required resources
7
(1)
The Delivery Authority must, before the beginning of each financial year, prepare a statement setting out the resources it requires for the year in order to exercise its functions.
(2)
The Delivery Authority must send each statement to the Sponsor Body.
(3)
The Sponsor Body must review each statement and may approve or reject it.
(4)
If the Sponsor Body rejects a statement, sub-paragraphs (1) to (3) apply again.
(5)
A statement that has been approved by the Sponsor Body is to be reflected in the estimate prepared by the Sponsor Body for the financial year to which the statement relates (see paragraphs 3, 6 and 8 of Schedule 4).
8
(1)
The Delivery Authority may prepare a supplementary statement for a financial year setting out—
(a)
any additional resources it requires for the year in order to exercise its functions, or
(b)
any reduction in the resources it requires for the year for that purpose.
(2)
The Delivery Authority must send a supplementary statement to the Sponsor Body.
(3)
The Sponsor Body must review a supplementary statement and may approve or reject it.
(4)
A supplementary statement that has been approved by the Sponsor Body is to be reflected in a supplementary estimate prepared by the Sponsor Body for the financial year to which the statement relates (see paragraphs 5, 7 and 9 of Schedule 4).