170 Council at appropriate intervals a summary statement of its financial position and a profit and loss statement showing the results of its operations. 2. The Enterprise shall publish its annual report and such other reports as it finds appropriate. 3. All reports and financial statements referred to in this article shall be distributed to the members of the Authority. Article 10 Allocation of net income 1. Subject to paragraph 3, the Enterprise shall make payments to the Authority under Annex III, article 13, or their equivalent. 2. The Assembly shall, upon the recommendation of the Governing Board, determine what portion of the net income of the Enterprise shall be retained as reserves of the Enterprise. The remainder shall be transferred to the Authority. 3. During an initial period required for the Enterprise to become self-supporting, which shall not exceed 10 years from the commencement of commercial production by it, the Assembly shall exempt the Enterprise from the payments referred to in paragraph 1, and shall leave all of the net income of the Enterprise in its reserves. Article 11 Finances 1. 2. 3. The funds of the Enterprise shall include: (a) amounts received from the Authority in accordance with article 173, paragraph 2(b); (b) voluntary contributions made by States Parties for the purpose of financing activities of the Enterprise; (c) amounts borrowed by the Enterprise in accordance with paragraphs 2 and 3; (d) income of the Enterprise from its operations; (e) other funds made available to the Enterprise to enable it to commence operations as soon as possible and to carry out its functions. (a) The Enterprise shall have the power to borrow funds and to furnish such collateral or other security as it may determine. Before making a public sale of its obligations in the financial markets or currency of a State Party, the Enterprise shall obtain the approval of that State Party. The total amount of borrowings shall be approved by the Council upon the recommendation of the Governing Board. (b) States Parties shall make every reasonable effort to support applications by the Enterprise for loans on capital markets and from international financial institutions. (a) The Enterprise shall be provided with the funds necessary to explore and exploit one mine site, and to transport, process and market the minerals recovered therefrom and the nickel, copper, cobalt and manganese obtained, and to meet its initial administrative expenses. The amount of the said funds, and the criteria and factors for its adjustment, shall be included by the