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Article 2
1. The allocation and delegation of financial functions to persons appointed for the purposes of the relevant body—
(a)in pursuance of section 407 of the Act, or
(b)on or after the operative date.
2. Access to records of the relevant body.
3. The preparation of capital and revenue budgets for the relevant body, and arrangements for monitoring and control of budgeted expenditure.
4. The treatment of any income for the time being receivable for the purposes of any functions of the relevant body.
5. Arrangements for banking accounts in the name of the relevant body.
6. Arrangements for ordering goods and services, and for making payment accordingly.
7. Arrangements for securing tenders for contracts.
8. The treatment of any payments to members of the relevant body’s staff, and of any deductions from such payments.
9. The handling of, and recording of, physical assets held for the purposes of the relevant body, and the disposal of such assets or other assets.
10. Arrangements for the receipt and payment of grants.
11. The taking of decisions to write off debts.
12. Day to day management, accounting and investment of surplus funds of the relevant body.
13. Arrangements for internal audit.
14. The treatment of financial irregularities.
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