- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
7(1)The Director shall keep accounts and shall prepare a statement of accounts in respect of each financial year.
(2)The accounts shall be kept, and the statement shall be prepared, in such form as the Secretary of State may, with the approval of the Treasury, direct.
(3)The accounts shall be audited by persons appointed in respect of each financial year by the Secretary of State.
(4)No person shall be qualified to be appointed as auditor under this paragraph unless he is—
(a)a member of a body of accountants established in the United Kingdom and for the time being recognised for the purposes of Part II of the [1989 c. 40.] Companies Act 1989; or
(b)a member of the Chartered Institute of Public Finance and Accountancy;
but a firm may be appointed as auditor under this paragraph if each of its members is qualified to be so appointed.
(5)In this paragraph, and in paragraph 8 below, “financial year” means—
(a)the period beginning with the day on which the first person to hold the office of Director takes office and ending with the following 31st March; and
(b)each subsequent period of twelve months ending with 31st March.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: