Regional Development Agencies Act 1998

Financial arrangementsE+W

F19 General financial duties.E+W

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Textual Amendments

F1Act repealed in so far as not already repealed (1.7.2012 at 0.02 a.m. except for ss. 14, 15, 17) by Public Bodies Act 2011 (c. 24), s. 38(3), Sch. 6; S.I. 2012/1662, art. 2(2)(b)

F110 Government grants.E+W

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Textual Amendments

F1Act repealed in so far as not already repealed (1.7.2012 at 0.02 a.m. except for ss. 14, 15, 17) by Public Bodies Act 2011 (c. 24), s. 38(3), Sch. 6; S.I. 2012/1662, art. 2(2)(b)

F111 Borrowing.E+W

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Textual Amendments

F1Act repealed in so far as not already repealed (1.7.2012 at 0.02 a.m. except for ss. 14, 15, 17) by Public Bodies Act 2011 (c. 24), s. 38(3), Sch. 6; S.I. 2012/1662, art. 2(2)(b)

F112 Government guarantees of an agency’s borrowing.E+W

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Textual Amendments

F1Act repealed in so far as not already repealed (1.7.2012 at 0.02 a.m. except for ss. 14, 15, 17) by Public Bodies Act 2011 (c. 24), s. 38(3), Sch. 6; S.I. 2012/1662, art. 2(2)(b)

F113 Government loans.E+W

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Textual Amendments

F1Act repealed in so far as not already repealed (1.7.2012 at 0.02 a.m. except for ss. 14, 15, 17) by Public Bodies Act 2011 (c. 24), s. 38(3), Sch. 6; S.I. 2012/1662, art. 2(2)(b)

[F114 Accounts and records.E+W

(1)A regional development agency shall—

(a)keep proper accounts and proper accounting records, and

(b)prepare in respect of each accounting period a statement of accounts giving a true and fair view of the state of affairs and the income and expenditure of the agency.

(2)Every statement of accounts prepared under subsection (1) shall comply with any requirement which the Secretary of State has, with the consent of the Treasury, notified in writing to the agency and which relates to any of the following matters, namely—

(a)the information to be contained in the statement,

(b)the manner in which that information is to be presented, or

(c)the methods and principles according to which the statement is to be prepared.

(3)Subject to subsections (4) and (5), “accounting period”, in relation to a regional development agency, means a period beginning with 1st April and ending with the next 31st March.

(4)The Secretary of State may, in relation to an accounting period of a regional development agency, direct that the period shall end with such date other than the next 31st March as may be specified in the direction.

(5)Where the Secretary of State has given a direction under subsection (4), the following accounting period of the agency to which the direction was given shall begin with the day after the date specified in the direction and, subject to any further direction under subsection (4), shall end with the next 31st March.

(6)In this section, “accounting records”, in relation to a regional development agency, includes all books, papers and other records of the agency relating to, or to matters dealt with in, the accounts required to be kept by this section.

F2(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F1Act repealed in so far as not already repealed (1.7.2012 at 0.02 a.m. except for ss. 14, 15, 17) by Public Bodies Act 2011 (c. 24), s. 38(3), Sch. 6; S.I. 2012/1662, art. 2(2)(b)

Modifications etc. (not altering text)

Commencement Information

I1S. 14 wholly in force at 3.7.2000; s. 14 not in force at Royal Assent see s. 43; s. 14 in force for certain purposes at 25.11.1998 by S.I. 1998/2952, art. 2(2); s. 14 in force at 3.7.2000 in so far as not already in force by S.I. 2000/1173, art. 2(2)(c)

[F115 Audit.E+W

(1)The accounts of a regional development agency for each accounting period shall be audited by the Comptroller and Auditor General.

(2)A copy of—

(a)any accounts of a regional development agency which are audited under subsection (1), and

(b)the report made on those accounts by the Comptroller and Auditor General,

shall be sent to the Secretary of State as soon as reasonably practicable after the report is received by the agency; and the Secretary of State shall lay before each House of Parliament a copy of those accounts and that report.

(3)In this section—

  • “accounting period” and “accounting records” have the same meanings as in section 14; and

  • references to accounts, in relation to a regional development agency, include any statement prepared by it under that section.

F3(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F1Act repealed in so far as not already repealed (1.7.2012 at 0.02 a.m. except for ss. 14, 15, 17) by Public Bodies Act 2011 (c. 24), s. 38(3), Sch. 6; S.I. 2012/1662, art. 2(2)(b)

Modifications etc. (not altering text)

Commencement Information

I2S. 15 wholly in force at 3.7.2000; s. 15 not in force at Royal Assent see s. 43; s. 15 in force for certain purposes at 25.11.1998 by S.I. 1998/2952, art. 2(2); s. 15 in force at 3.7.2000 in so far as not already in force by S.I. 2000/1173, art. 2(2)(c)