(1)The Commission and every development corporation—
(a)shall keep proper accounts and other records in relation to those accounts, and
(b)shall respectively prepare in respect of each financial year annual accounts in such form as the Secretary of State may with the Treasury's approval direct, being, in the Commission's case, in a form which will show their financial position both generally and in relation to each of their towns,
and directions under this subsection may make different provisions as regards the Commission and as regards a development corporation.
(2)The financial year of the Commission and of every development corporation shall begin with 1st April, and references to a financial year in relation to the Commission or a development corporation shall be construed accordingly.
(3)Without prejudice to the generality of subsection (1) above, the Secretary of State may, with the Treasury's approval, give directions to the Commission or a development corporation as to—
(a)the kind or number of accounts which they are to keep,
(b)the amounts which are or are not to be credited or debited to any account,
(c)the manner of rectifying any account,
(d)provision for working balances,
and any such direction may be a general direction or a direction for a particular case.