Crown Agents Act 1979

PART IITransitional Provisions

Final accounts of unincorporated Agents

1(1)If by the appointed day—

(a)the unincorporated Agents have not prepared a statement of accounts in respect of their last full financial year ; or

(b)the statement of accounts prepared by them in respect of that year has not been audited,

the following sub-paragraph shall apply.

(2)It shall be the duty of the Crown Agents and the Board, acting jointly—

(a)to prepare in respect of the period between the beginning of the last full financial year of the unincorporated Agents and the beginning of the first accounting year a statement of accounts dealing, with the unincorporated Agents ; and

(b)to submit that statement to the Minister within such time after the appointed day as the Minister may direct.

2(1)If—

(a)on the appointed day the circumstances are such that subparagraph 1(2) does not apply ; and

(b)the beginning of the first accounting year does not coincide with the end of the last full financial year of the unincorporated Agents,

the following sub-paragraph shall apply.

(2)It shall be the duty of the Crown Agents and the Board, acting jointly—

(a)to prepare in respect of the period between the end of the last full financial year of the unincorporated Agents and the beginning of the first accounting year a statement of accounts dealing with the unincorporated Agents ; and

(b)to submit that statement to the Minister within such time after the appointed day as the Minister may direct.

3Without prejudice to section 30(1)(c), an order under section 31(2) may contain such supplementary, incidental and transitional provisions as the Minister thinks fit with respect to any statement of accounts to be submitted to him under paragraph 1 or 2.

Final report on affairs of unincorporated Agents

4(1)If by the appointed day the unincorporated Agents have not made to the Minister a report on the performance by them of their functions during their last full financial year, the following subparagraph shall apply.

(2)The Crown Agents and the Board, acting jointly, shall, within such time after that day as the Minister may direct, make to the Minister, in such form as he may direct, a report on the performance by the unincorporated Agents of their functions during the period mentioned in paragraph 1(2)(a).

(3)If—

(a)by the appointed day the unincorporated Agents have made to the Minister such a report as is mentioned in sub-paragraph (1); and

(b)the condition specified in paragraph 2(1)(b) is fulfilled,

the preceding sub-paragraph shall apply, but with the substitution of a reference to the period mentioned in paragraph 2(2)(a) for the reference to the period mentioned in paragraph 1(2)(a).