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When money is required for the commencement of a major project or for its continuation, the source of the requisite revenue must be clearly indicated when making the financial arrangements.
When money is required for the commencement of a major project or for its continuation, the source of the requisite revenue must be clearly indicated when making the financial arrangements.
To make and change investments strictly so called, the consent of the provincial council suffices, observing the prescriptions of common law.
The Order must also have an economic council, whose ex officio chairman is the bursar of the Order and which exercises the same functions as does a province’s economic council.
It is the responsibility of the bursar of the Order to examine the economic administration of all the convents and institutes immediately subject to the Master of the Order, as determined by the Master of the Order.
A provincial bursar should collaborate with all conventual bursars, exchanging advice and examining administrative problems, as determined by the economic statute.
At the end of the administrative year the bursar of the Order, with the approval of the Master of the Order, must send to every prior provincial a detailed report on the economic condition of the Order in the previous year, including, especially, any extraordinary budget.