Harris Tweed Act 1993

6 Accounts

(1) It shall be the duty of the Authority—

(a) to keep proper accounts and proper records in relation to the accounts; and

(b) to prepare a statement of accounts in respect of each financial year.

(2) The statement of accounts shall give a true and fair view of the state of the Authority’s affairs at the end of the financial year and of its income and expenditure in that year.

(3) The accounts shall be audited by a person to be appointed in respect of each financial year by the Authority and the auditor shall be provided by the Authority with copies of the statement of accounts.

(4) The provisions of Part II of the [1989 c. 40.] Companies Act 1989 (which deal with the eligibility of persons for appointment as company auditors) shall apply in relation to the Authority as if the Authority were a company within the meaning of those provisions and as if a person appointed as auditor of the Authority were, within their meaning, a company auditor.

(5) When it receives the auditor’s report on its accounts for any financial year, the Authority shall send the Council copies of the accounts and of the report.

(6) In this section “financial year” means the 12 months ending with 31st December; but without prejudice to the Authority’s power subsequently to alter, if it sees fit, the date to which its financial year runs.