17E+WAs soon as possible after the end of each financial year, the regulator must send the Secretary of State a report on the exercise of its functions during the year.
Commencement Information
I1Sch. 3 para. 17 in force at 1.9.2018 by S.I. 2018/945, reg. 3(b)
18(1)The regulator must keep proper accounts and proper records in relation to the accounts.E+W
(2)The regulator must prepare a statement of accounts for each financial year.
(3)The statement must be in such form as the Secretary of State may direct.
(4)The regulator must send a copy of the statement to —
(a)the Secretary of State, and
(b)the Comptroller and Auditor General,
within the time period directed by the Secretary of State.
(5)The Comptroller and Auditor General must—
(a)examine, certify and report on the statement of accounts, and
(b)send a copy of the certified statement and of the report to the Secretary of State as soon as possible.
Commencement Information
I2Sch. 3 para. 18 in force at 1.9.2018 by S.I. 2018/945, reg. 3(b)
19E+WThe Secretary of State must, in respect of each financial year, lay before Parliament a document consisting of—
(a)the annual report sent under paragraph 17, and
(b)the certified statement of accounts and report sent under paragraph 18(5)(b).
Commencement Information
I3Sch. 3 para. 19 in force at 1.9.2018 by S.I. 2018/945, reg. 3(b)
20E+WIn paragraphs 17 to 19 “financial year” means—
(a)the period beginning with the day on which this Schedule comes fully into force and ending with the following 31 March, and
(b)every subsequent period of 12 months ending with 31 March.
Commencement Information
I4Sch. 3 para. 20 in force at 1.9.2018 by S.I. 2018/945, reg. 3(b)