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46 2003

Personal Injuries Assessment Board Act 2003

Chapter 7

Financial provisions

Grants to Board.

74. —The Minister may, in each financial year, after consultation with the Board in relation to its proposed work programme and projected expenditure for that year, make to the Board a grant of such amount, as may be sanctioned by the Minister for Finance, out of moneys provided by the Oireachtas for the purposes of expenditure by the Board in the performance of its functions.

Borrowings by Board.

75. —(1) The Board may, for the purpose of providing for current expenditure, from time to time, borrow money (whether on the security of the assets of the Board or otherwise).

(2) The exercise of this power is subject to the consent of the Minister and the Minister for Finance and to such conditions as they may specify.

Accounts.

76. —(1) The chief executive shall submit estimates of income and expenditure of the Board to the Minister in such form, in respect of such periods, and at such times as may be required by the Minister and shall furnish to the Minister any information which the Minister may require in relation to such estimates, including proposals and future plans relating to the discharge by the Board of its functions over a period of years, as required.

(2) The chief executive shall consult with the Board in performing the functions under subsection (1) and may submit to the Minister any estimates, information, proposals or other matters under that subsection only after obtaining the Board's consent to do so.

(3) The chief executive, under the direction of the Board, shall cause to be kept on a continuous basis and in a legible or a machine readable form, or both, all proper books and records of account of all income and expenditure of the Board, and of the sources of such income and the subject matter of such expenditure, and of the property, assets and liabilities of the Board; the chief executive shall also keep and shall account to the Board for all such special accounts as the Minister or the Board, with the consent of the Minister, may from time to time direct should be kept.

(4) The financial year of the Board shall be the period of 12 months ending on 31 December in any year and, for the purposes of section 74 , this section and sections 77 and 83, the period commencing on the establishment day and ending on the following 31 December shall be deemed to be a financial year.

Further provisions with respect to accounts (including their audit).

77. —(1) The Board, the chief executive and any relevant member of the staff of the Board shall, whenever so requested by the Minister, permit any person appointed by the Minister to examine the books or other records of account of the Board in respect of any financial year or other period and shall facilitate any such examination, and the Board shall pay such fee therefor as may be fixed by the Minister.

(2) In subsection (1) “relevant member of the staff of the Board” means a member of the staff of the Board to whom there has been duly assigned functions relating to the books or other records of account referred to in that subsection.

(3) The accounts of the Board for each financial year shall be prepared in such a form and manner as may be specified by the Minister and be prepared by the chief executive and approved by the Board as soon as practicable but not later than three months after the end of the financial year to which they relate for submission, as soon as practicable, to the Comptroller and Auditor General for audit.

(4) A copy of such of the accounts referred to in subsection (3) as the Minister directs and the report of the Comptroller and Auditor General thereon shall be presented to the members of the Board and to the Minister, as soon as practicable after the audit of them is completed, and the Minister shall cause a copy of these documents to be laid before each House of the Oireachtas.

Strategic plans.

78. —(1) As soon as practicable after the establishment day, and thereafter within 6 months before each fifth anniversary of the establishment day, the Board shall prepare and submit to the Minister, for approval with or without amendment by the Minister, a strategic plan for the ensuing 5 year period.

(2) A strategic plan shall—

(a) comprise the key objectives, outputs and related strategies, including the use of resources, of the Board,

(b) be prepared in a form and manner in accordance with any directions issued from time to time by the Minister, and

(c) have regard to the need to ensure the most beneficial, effective and efficient use of the resources of the Board.

(3) The Minister shall, as soon as practicable after the strategic plan has been approved, cause a copy of the strategic plan to be laid before each House of the Oireachtas.