Transport Act 1968

14 Accounts of Executive. U.K.

(1) The Executive for a [F1 designated][F1 passenger transport] area shall—

(a) cause proper accounts and other records in relation to their business to be kept; [F2 and

(b) prepare an annual statement of accounts in respect of such accounting period, in such form, and containing such particulars, compiled in such manner, as the [F3 Minister][F3 Authority] may from time to time direct.]

[F4 (2) The accounts of the Executive shall be audited by an auditor or auditors to be appointed annually by the Authority for the area, and any person so appointed as auditor shall be either the district auditor or some other person who is a member, or is a firm in Scotland each of the partners wherein is a member, of one or more of the following bodies, namely—

• the Institute of Chartered Accountants in England and Wales;

• the Institute of Chartered Accountants of Scotland;

• the Association of Certified and Corporate Accountants;

• the Institute of Chartered Accountants in Ireland;

• the Institute of Municipal Treasurers and Accountants;

• any other body, being a body of accountants established in the United Kingdom who are for the time being recognised for the purposes of [F5 section 389(1)(a) of the Companies Act 1985 by the Secretary of State];

and any auditor so appointed shall be entitled to require from any officer of the Executive or of any subsidiary of theirs such books, deeds, contracts, accounts, vouchers, receipts, and other documents, and such information and explanations, as may be necessary for the performance of his duties.]

[F6 (3) So soon as the accounts of the Executive have been audited as aforesaid, they shall send a copy of the statement of accounts referred to in subsection (1)(b) of this section to the Minister, [F7 and] to the Authority[. . . F8 for the designated area] [F9 and to each of the councils of constituent areas,] together with a copy of the report made by the auditor or auditors on that statement.]

[F6 (3) As soon as the accounts of the Executive for any accounting period have been audited in accordance with Part III of the Local Government Finance Act 1982 they shall send a copy of any statement of accounts prepared by them for that period pursuant to regulations under section 23 of that Act to the Minister, to the Authority [F10 and to each of the councils of the districts comprised in the county which is coterminous with or includes the Executive’s area], together with a copy of the auditor’s opinion on that statement.]

Textual Amendments

F1 Words substituted (E.W.S.) by Transport Act 1985 (c. 67, SIF 126), s. 57(6), Sch. 3 para. 2(a)

F2 Word “and" and s. 14(1)(b) repealed (E.W.) with saving by Local Government Finance Act 1982 (c. 32, SIF 81:1), S. 38(5), Sch. 6 Pt. IV

F3 Word “Authority" substituted (S.) for word “Minister" by Local Government (Scotland) Act 1973 (c. 65, SIF 81:2), Sch. 18 para. 6(a)

F4 S. 14(2) repealed (E.W.) with saving by Local Government Finance Act 1982 (c. 32, SIF 81:1), s. 38(5), Sch. 6 Pt. IV

F5 Words substituted by Companies Consolidation (Consequential Provisions) Act 1985, (c. 9, SIF 27), s. 30, Sch. 2

F6 S. 14(3) as second appears substituted (E.W.) for s. 14(3) as first appears with saving by Local Government Finance Act 1982 (c. 32, SIF 81:1), s. 34, Sch. 5 para. 3

F7 Word inserted (S.) by Local Government (Scotland) Act 1973 (c. 65), Sch. 18 para. 6(b)

F8 Words repealed (S.) by Transport Act 1985 (c.67, SIF 126), ss. 57(6), 139(3), Sch. 3 para. 9, Sch. 8

F9 Words repealed (S.) by Local Government (Scotland) Act 1973 (c. 65), Sch. 29 and repealed (E.W.S.) by Transport Act 1985 (c. 67, SIF 126), s. 57(6), Sch. 3 para. 21(3)(b)

F10 Words substituted (E.W.) by Transport Act 1985 (c. 67, SIF 126), s. 57(6), Sch. 3 para. 8

Modifications etc. (not altering text)

C1 S. 14(1)(a) excluded (E.W.) by Local Government Finance Act 1982 (c. 32, SIF 81:1), s. 31(3)