(1)For each financial year the Authority shall prepare a summary statement of accounts.
(2)The summary statement of accounts shall be in respect of the Authority, the functional bodies and the London Pensions Fund Authority.
(3)Subsection (1) above is without prejudice to any other duty of the Authority, a functional body or the London Pensions Fund Authority to prepare accounts or statements of accounts.
(4)[F1Section 25 of the Local Audit and Accountability Act 2014 (inspection of statements of accounts etc)] shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to a statement of accounts prepared by the Authority under [F2section 3(3)] of that Act.
(5)[F3Sections 26 to 31 of the Local Audit and Accountability Act 2014, and Schedule 8 to that Act] (public inspection etc and action by the auditor, and prevention of unlawful expenditure) shall not apply in relation to a summary statement of accounts required to be prepared under this section.
(6)[F4Section 32 of the Local Audit and Accountability Act 2014] (accounts and audit regulations) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to F5... statements of accounts.
Textual Amendments
F1Words in s. 134(4) substituted (1.4.2015) by Local Audit and Accountability Act 2014 (c. 2), s. 49(1), Sch. 12 para. 43(2)(a); S.I. 2015/841, art. 3(x)
F2Words in s. 134(4) substituted (1.4.2015) by Local Audit and Accountability Act 2014 (c. 2), s. 49(1), Sch. 12 para. 43(2)(b); S.I. 2015/841, art. 3(x)
F3Words in s. 134(5) substituted (1.4.2015) by Local Audit and Accountability Act 2014 (c. 2), s. 49(1), Sch. 12 para. 43(3); S.I. 2015/841, art. 3(x)
F4Words in s. 134(6) substituted (12.2.2015 for specified purposes, 1.4.2015 in so far as not already in force) by Local Audit and Accountability Act 2014 (c. 2), s. 49(1), Sch. 12 para. 43(4)(a); S.I. 2015/223, art. 2; S.I. 2015/841, art. 3(x)
F5Words in s. 134(6) omitted (12.2.2015 for specified purposes, 1.4.2015 in so far as not already in force) by virtue of Local Audit and Accountability Act 2014 (c. 2), s. 49(1), Sch. 12 para. 43(4)(b); S.I. 2015/223, art. 2; S.I. 2015/841, art. 3(x)