this shall not prevent the government from holding shares in a Licensee as long as the Minister is not responsible for exercising rights over such shares The restriction provided for in this paragraph applies to the senior officials of the Ministry and other officials with responsibilities for the Telecommunications sector. Article (16) Independence of the Authority The Minister may at any time advice the Authority in writing of his opinion on any matter of government policy relating to Telecommunications. The Authority shall study the proposals made by the Minister in this respect and shall act to carry out such proposals in such a manner as does not conflict with its responsibilities and powers as provided for under this Law. Chapter 6 Financial and Related Matters Article (17) Annual Accounts, Report and Audit a) The start and end of the financial year of the Authority shall be determined by a resolution issued by the Board. b) The Authority shall have an independent budget and maintain audited reports for each financial year. c) The General Director shall, in co-ordination with the Ministry of Finance and National Economy, prepare a draft budget for the Authority for the next financial year and submit such draft to the Board three months before the end of the financial year. The Board shall approve such draft within three months of submission. If the draft budget is rejected by the Board or if such period expires without approval of the draft by the