Estimates

(1) NICH shall cause to be prepared not later than eight weeks before the end of each financial year, estimates of its income and expenditure for the next following financial year, for meeting any of its obligations or discharging any of its functions under this Act. (2) In the preparation of such estimates NICH shall take into account any funds and other moneys that may be due to be paid to it out of the Consolidated Revenue Fund during the relevant financial year, whether by virtue of this Act or an Appropriation Act or any other law; and NICH shall so prepare the said National Cultural Heritage 46 estimates as to ensure that its total revenues are at least sufficient to meet all sums properly chargeable to its revenue account including, but without prejudice to the generality of that expression, “depreciation.” (3) Such estimates shall be submitted to the Minister through the President.