(1) A new local government must, at a meeting of the local government—(a) adopt, by resolution, a budget presented by the mayor, with or without amendment, for the period—(i) starting on 1 January 2014; and(ii) ending on 30 June 2014; and(b) decide, by resolution, what rates and charges are to be levied for the period—(i) starting on 1 January 2014; and(ii) ending on 30 June 2014.
(2) The meeting must be held—(a) before 1 February 2014; or(b) on a later day allowed by the Minister.
(3) Sections 94(2) and 107A do not apply to a new local government for the 2013-14 financial year.