Amendment status not verified — confirm the current text below against the official source.
Powers and Duties of Finance Committee.— (1) The Finance Committee shall act as advisory body on all matters concerning the finance of the Board. Its duties and functions shall be as under:— (i) to prepare and submit to the Executive Council with its recommendations the annual, revised or supplementary budget estimates of the annual accounts of income and expenditure of the Board; (ii) to make recommendations to the Executive Council on all matters relating to the finance of the Board; (iii) to examine every proposal of new expenditure and to advise the Executive Council thereon; (iv) to review and report periodically to the Executive Council on the financial position of the Board; (v) generally to devise means for effecting economy, without impairing efficiency; (vi) to consider proposals for fixation of pay scales for new posts and revision of pay scales and advise the Executive Council thereon. 17