SCHEDULES
SCHEDULE 10The Financial Services Compensation Scheme
I1I211
After section 218 insert—
218ZAAudit of accounts
1
The scheme manager must send a copy of its annual accounts to the Comptroller and Auditor General and the Treasury as soon as is reasonably practicable.
2
The Comptroller and Auditor General must—
a
examine, certify and report on accounts received under this section, and
b
send a copy of the certified accounts and the report to the Treasury.
3
The Treasury must lay the copy of the certified accounts and the report before Parliament.
4
The scheme manager must send a copy of the certified accounts and the report to the regulators.
5
Except as provided by section 218(4), the scheme manager is exempt from the requirements of Part 16 of the Companies Act 2006 (audit), and its balance sheet must contain a statement to that effect.
6
In this section “annual accounts” has the meaning given by section 471 of the Companies Act 2006.