SCHEDULES
SCHEDULE 4The Payment Systems Regulator
Audit of accounts
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1
The Regulator 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 paragraph, 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 Regulator must send a copy of the certified accounts and the report to the FCA.
5
Except as provided for by paragraph 7(5), the Regulator 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 paragraph “annual accounts” has the meaning given by section 471 of the Companies Act 2006.