40(1)The Commission shall—E+W+S
(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.
Textual Amendments
F1Words in Sch. 1 substituted (18.8.2010) by Transfer of Functions (Equality) Order 2010 (S.I. 2010/1839), art. 1(2), Sch. para. 7(2)(o)