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New Towns Act 1981

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This is the original version (as it was originally enacted).

68Audit

(1)The accounts of the Commission and of every development corporation shall be audited by an auditor to be appointed annually by the Secretary of State in relation to the Commission or corporation.

(2)No person shall be qualified to be so appointed auditor unless he is a member of one or more of the following bodies—

  • the Institute of Chartered Accountants in England and Wales;

  • the Institute of Chartered Accountants of Scotland ;

  • the Association of Certified Accountants ;

  • the Institute of Chartered Accountants in Ireland;

  • any other body of accountants established in the United Kingdom and for the time being recognised for the purposes of paragraph (a) of section 161(1) of the [1948 c. 38.] Companies Act 1948 by the Secretary of State.

(3)As soon as the annual accounts of the Commission or a development corporation for any financial year have been audited, the Commission or corporation, as the case may be, shall send to the Secretary of State a copy of the accounts prepared by them for that year in accordance with this section, together with a copy of any report made by the auditor on those accounts.

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