Not later than the 30th day of September in the financial year commencing on the 1st day of April 1973, and in each subsequent year, the Board shall prepare a budget of the annual amount required for the management, maintenance, support, and development of the museum during the following financial year and a list setting out opposite the name of each of the contributing authorities the annual amount apportioned as hereinafter provided to be levied against such contributing authority in respect of such budget during such financial year, and shall refer such budget and list to the Budgetary Committee which may approve such budget and list or refer them back to the Board for reconsideration.

The Board shall forward a copy of the budget and list when approved by the Budgetary Committee to each of the contributing authorities.

If within 3 months after the budget and list have first been referred to it, the Budgetary Committee has not approved the same, the Board may forward a copy of such budget and list to each of the contributing authorities without such approval.

If more than one-half of the contributing authorities give notice in writing to the Board under their respective seals within 6 weeks after a copy of the said budget and list has been forwarded to them that they are dissatisfied with such budget and list, stating in detail the grounds of their dissatisfaction, the Board shall prepare a new budget and list, but otherwise the said budget and list shall be deemed to be approved by all contributing authorities and shall be binding on them, and the Board may in such following financial year make a levy against each of the contributing authorities of the amount shown opposite the name of such contributing authority on the list. The provisions of this subsection shall also apply in respect of every such new budget and list.

For the purpose of apportioning levies the population of the district of each contributing authority shall be the number of persons in that district as at the 1st day of April in the financial year in which the budget and list are prepared, according to figures obtained from the Department of Statistics, but the Board in its absolute discretion may adjust such number by reason of there being groups of persons temporarily or for a special purpose in any district at that date.

For the purposes of apportioning levies the capital value of rateable property shall be the capital value thereof as at the 1st day of April in the financial year in which the budget and list are prepared such value being determined under the Valuation of Land Act 1951, equalised in accordance with Part IX of the Rating Act 1967, and certified as correct by the Valuer-General.

An adjusted population of the district of each contributing authority shall be computed by multiplying the population of such district by the differential factor appropriate to that contributing authority shown in column 2 of the First Schedule to this Act opposite the name of such contributing authority.

An adjusted capital value of all rateable property in the district of each contributing authority shall be computed by multiplying the capital value of all rateable property in such district by the said differential factor.

The adjusted population computed as provided for in subsection (7) of this section and the adjusted capital value computed as provided for in subsection (8) of this section shall be calculated as a percentage of the total adjusted population and the total adjusted capital value of all rateable property in the districts of all contributing authorities.

The levy made in each financial year against each contributing authority shall be an amount equal to the mean of the percentages calculated as provided for in subsection (9) of this section in respect of such contributing authority, of the total amount of the levy.

The levy made under section 15 of this Act shall be apportioned among the contributing authorities as heretofore provided on population and capital values as at the 1st day of April 1973.”