s. 139 138 Quarterly statements S. 138 substituted by No. 109/2003 s. 71. (1) At least every 3 months, the Chief Executive S. 138(1) amended by Officer must ensure that a statement comparing No. 67/2008 the budgeted revenue and expenditure for the s. 53. financial year with the actual revenue and expenditure to date is presented to the Council at a Council meeting which is open to the public. (2) The regulations may prescribe matters to be included in the statement. S. 139 139 Audit committee substituted by No. 109/2003 (1) A Council must establish an audit committee. s. 71. (2) An audit committee is an advisory committee. (3) An audit committee must be constituted in the prescribed manner. (4) An audit committee has the functions and responsibilities prescribed for the purposes of this section. (4A) Sections 76D and 79 apply to members of an audit S. 139(4A) inserted by committee as if they were members of a special No. 67/2008 committee of the Council. s. 54. (5) The Minister may make guidelines for the purposes of this section. (6) Guidelines made under subsection (5) must be published in the Government Gazette. (7) A Council may pay a fee to a member of an audit committee who is not a Councillor or member of Council staff. S. 140 140 Accounts and records substituted by No. 109/2003 (1) A Council has a duty to ensure that there are kept s. 71. in accordance with the regulations—
S. 138 substituted by No. 109/2003 s. 71. 138 Quarterly statements S. 138(1) amended by No. 67/2008 s. 53. (1) At least every 3 months, the Chief Executive Officer must ensure that a statement comparing the budgeted revenue and expenditure for the financial year with the actual revenue and expenditure to date is presented to the Council at a Council meeting which is open to the public. (2) The regulations may prescribe matters to be included in the statement. S. 139 substituted by No. 109/2003 s. 71. 139 Audit committee s. 139 (1) A Council must establish an audit committee. (2) An audit committee is an advisory committee. (3) An audit committee must be constituted in the prescribed manner. (4) An audit committee has the functions and responsibilities prescribed for the purposes of this section. S. 139(4A) inserted by No. 67/2008 s. 54. (4A) Sections 76D and 79 apply to members of an audit committee as if they were members of a special committee of the Council. (5) The Minister may make guidelines for the purposes of this section. (6) Guidelines made under subsection (5) must be published in the Government Gazette. (7) A Council may pay a fee to a member of an audit committee who is not a Councillor or member of Council staff. S. 140 substituted by No. 109/2003 s. 71. 140 Accounts and records (1) A Council has a duty to ensure that there are kept in accordance with the regulations—
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