207 (b) (°c) (2) the transaction of the day-to-day business of the Authority; and the exercise of such powers as may be delegated to the Chief Executive Officer by the Board pursuant to section 12. Within 60 days of the date this Act comes into operation, the Chief Executive Officer shall develop a plan, for approval by the Board, to reorganise the Authority as a converged regulator for the telecommunications, broadcasting and postal sectors. PART IV — FINANCES Finances of the Authority 16. (1) The Authority shall prepare an annual budget, which shall - (a) (b) specify the anticipated revenues and expenditures of the Authority; be submitted to the Minister, for information, not later than 60 days prior to the financial year in which it is to be effective; and (c) (2) cover the financial year commencing on 1 April and ending 31 March. The revenues of the Authority shall consist of - (a) such monies as may be appropriated by Parliament; (b) such fees as the Authority may impose for services provided under this Act; (c) such fees as the Authority may impose for licences issued under this Act; (a) such other fees or monies as the Authority may, by virtue of this Act, raise or impose;