SCHEDULES

SCHEDULE 1The Commission: Constitution, &c.

Part 3Money

Accounts

40

1

The Commission shall—

a

keep proper accounting records, and

b

prepare a statement of accounts in respect of each financial year in such form as the F1Secretary of State may direct.

2

The Commission shall send a copy of a statement under sub-paragraph (1)(b) to—

a

the F1Secretary of State, and

b

the Comptroller and Auditor General.

3

A copy of a statement must be sent under sub-paragraph (2) within such period, beginning with the end of the financial year to which the statement relates, as the F1Secretary of State may direct.

4

The Comptroller and Auditor General shall—

a

examine, certify and report on a statement received under this paragraph, and

b

lay a copy of the statement and his report before Parliament.

5

The F1Secretary of State may make a direction under sub-paragraph (1)(b) only with the consent of the Treasury.