(1)The General Council shall keep proper accounts of all sums received or paid by it and proper records in relation to those accounts.
(2)The accounts for each financial year of the General Council shall be audited by persons appointed by the Council.
(3)No person may be appointed as an auditor under subsection (2) unless he is eligible for appointment as a company auditor under section 25 of the M1Companies Act 1989 or Article 28 of the M2Companies (Northern Ireland) Order 1990.
(4)As soon as is reasonably practicable after the accounts of the General Council have been audited, the Council shall—
(a)cause them to be published, together with any report on them made by the auditors; and
(b)send a copy of the accounts and of any such report to the Privy Council.
(5)The Privy Council shall lay any copy sent to them under subsection (4) before each House of Parliament.