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Post Office Act 1969

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98Annual statement with respect to ordinary deposits and expenses

(1)The Director of Savings and the National Debt Commissioners shall, as respects the year in which the appointed day falls and each subsequent year, prepare a statement showing—

(a)the aggregate of the sums received and repaid during the year in respect of ordinary deposits;

(b)the aggregate of the sums paid or credited during the year by way of interest on ordinary deposits ;

(c)the aggregate liabilities, as at the end of the year, so far as regards ordinary deposits ;

(d)the nominal value and the description, as at the end of the year, of the investments held by the Commissioners which have been made under section 16 of the Post Office Savings Bank Act 1954;

(e)the aggregate of the sums that accrued during the year by way of interest on investments made under that section by the Commissioners; and

(f)the amount of the expenses incurred during that year in the execution of that Act;

and shall, before the end of May next following, transmit it to the Comptroller and Auditor General who shall examine, certify and report on it and lay copies of it, together with copies of his report on it, before Parliament.

(2)No accounts or statements shall be made out or prepared under the Post Office Savings Bank Act 1954 as respects the year in which the appointed day falls or any subsequent year; and anything which, in the first-mentioned year, falls, by virtue of section 15 or 20 of that Act (annual account of ordinary deposits to be laid before Parliament, and annual account of liabilities with respect to such deposits to be so laid), to be done by the Postmaster General shall, if not done before that day, be done instead by the Treasury.

(3)In this section "year " means a period of twelve months ending 31st December.

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