Port Authorities Act 1963 · Updated to 1 Dec 2020 · Part I · Port Authorities
11. Estimates of revenue and expenditure and annual report
Feedback & supportThe authority shall, as soon as may be after the end of each financial year, make a report to the Minister, dealing generally with its activities during that year and its proposed undertakings for the ensuing year and the report shall contain such information with respect to the proceedings and policy of the authority as the Minister may require.
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port
“port” means the port specified in the Schedule within the limits declared under section 6 of the Merchant Shipping Ordinance 1952;
The authority shall furnish to the Minister such financial and statistical returns or such other reports on the financial position of the authority as the Minister may from time to time require.
Minister
“Minister” means the Minister charged with the responsibility for ports;
Not later than three months before the commencement of the financial year to which they relate, the annual estimates of revenue and expenditure (including capital expenditure) shall be submitted by the authority to the Minister for his approval and the Minister may at any time within one month of receipt of the same, disallow or amend any item of capital expenditure appearing in such estimates, or any portion thereof, and return the same to the authority for amendment.
estimates
“estimates” means in respect of recurrent revenue the best possible commercial forecast of revenue taking into account the general conditions of world trade and all other relevant factors and in respect Port Authorities 77 of recurrent expenditure the best possible commercial forecast of expenditure likely to be incurred having regard to the estimates of revenue;
The authority shall forthwith amend any estimates returned to it under subsection (3) and shall resubmit such estimates (as amended)
to the Minister.