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Biological Standards Act 1975

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This is the original version (as it was originally enacted).

4Financial provisions.

(1)The Secretary of State shall pay to the Board, out of moneys provided by Parliament, such sums as may, be necessary to defray the expenditure of the Board incurred with his approval, so far as that expenditure is not met out of fees received by the Board for services rendered by it or out of other income of the Board.

(2)Any sums received by the Board shall be applied by the Board in such manner as the Secretary of State may, with the approval of the Treasury, direct; and any such direction may require the whole or any part of those sums to be paid into the Consolidated Fund.

(3)The Board shall keep proper accounts and other records and shall prepare in respect of each accounting year statements of account in such form as the Secretary of State may, with the approval of the Treasury, direct.

(4)Statements of account prepared by the Board in accordance with subsection (3) above shall be submitted to the Secretary of State on or before 30th September next following the end of the accounting year to which they relate, and shall be transmitted by him to the Comptroller and Auditor General, who shall examine, certify and report on the statements and lay copies of them and of his report before Parliament.

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