Article 18 of Capital Markets Authority Law

The Authority shall have an independent budget issued by law and prepared in accordance with the rules specified by the Executive Regulations, subject to the provisions of Decree-Law No. 31 of 1978 concerning the rules for preparing public budgets, monitoring their implementation and final accounts. The financial year shall begin on the first of April and end at the end of March of each year. The Executive Regulations shall specify the financial rules and procedures governing the Authority’s disposal of its funds, the books it shall maintain to control its operations, and the manner of auditing its accounts. The Chairman of the Board of Commissioners shall have the powers of the Minister of Finance with respect to the provisions of the aforementioned Decree-Law.