Article G3 Expenditure to be charged to revenue account
All expenditure incurred by the Authority, other than expenditure excluded by article G4 below, must be charged to a revenue account of the Authority and unless, in accordance with proper practices (exclusive of this paragraph), it is appropriate to charge some or all of any particular item of expenditure to a revenue account for an earlier or a later financial year, the expenditure shall be charged to a revenue account of the Authority for the year in which it is incurred.
Any reference to a revenue account is a reference to one of the following accounts for a financial year of the Authority, namely—
a revenue account which the Authority is required to keep by virtue of any enactment;
a revenue account which the Authority is required to keep in order to comply with proper practices; or
any other revenue account which the Authority decide to keep in accordance with proper practices.
The reference in paragraph (1) above to expenditure incurred by the Authority in any financial year includes the following (whether or not giving rise to actual payments)—
any amount which does not form part of the Authority’s capital receipts and which is set aside for the year by the Authority as provision to meet credit liabilities, otherwise than by virtue of paragraphs (1) and (2) of article G24 below; and
any other amount which is set aside for the year by the Authority as reasonably necessary for the purpose of providing for any liability or loss which is likely or certain to be incurred but is uncertain as to the amount or the date on which it will arise (or both);
and the reference in paragraph (4) below to expenditure incurred by the Authority shall be construed in accordance with this paragraph.
Nothing in this article or the following provisions of this Part shall permit the Authority to charge to a revenue account which it is required to keep by virtue of any enactment any expenditure incurred by the Authority which could not otherwise be so charged.