17There shall be paid to the members of the General Council such fees and such travelling, subsistence or other allowances as the General Council may allow.
18(1)Any fees or other sums payable by virtue of this Act in connection with registration under this Act shall be paid to the General Council, and any expenses of the Council shall be defrayed out of the sums received by the Council either on account of those fees and sums, or from the sale of registers, or otherwise.
(2)The General Council shall keep proper accounts of all sums received or paid by them, and proper records in relation to those accounts (including records of the evidence furnished by branch councils under paragraph 28 below), and their accounts for each financial year of the Council shall be audited by auditors appointed by the Council.
(3)No person shall be qualified to be appointed auditor under this paragraph unless he is a member of one or more of the following bodies—
the Institute of Chartered Accountants in England and Wales;
the Institute of Chartered Accountants of Scotland;
the Association of Certified Accountants;
the Institute of Chartered Accountants in Ireland;
any other body of accountants established in the United Kingdom and for the time being recognised by the Secretary of State for the purposes of [F1section 389(1)(a) of the Companies Act 1985];
but a Scottish firm may be so appointed if each of its partners is qualified to be so appointed.
(4)As soon as may be after the accounts of the General Council have been audited, the Council shall cause them to be published and shall send a copy of them to the Privy Council together with a copy of any report of the auditors on them, and the Privy Council shall lay a copy of the accounts and of any report of the auditors on the accounts before each House of Parliament.
Textual Amendments
F1Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2