3.—(1) Before the beginning of the first financial year of the committee every local education authority to whom these Regulations apply shall prepare a statement of the estimated expenses to be incurred in respect of that year by the school organisation committee to be established for their area.
(2) For the purposes of paragraph 4(4) and (5) of Schedule 4 to the Act the statement prepared pursuant to paragraph (1) shall be treated as if it had been submitted under paragraph 4(2) and approved under paragraph 4(3) of that Schedule.