Part 4E+W+SFinancial framework and information
Financial frameworkE+W+S
10(1)The Secretary of State—E+W+S
(a)must prepare, and
(b)may from time to time revise,
a document to be known as the [F1PC]'s “financial framework”.
(2)The financial framework must specify rules and principles according to which the [F1PC] is to exercise and perform its powers and duties in relation to—
(a)financial matters; and
(b)matters relating to its employees.
(3)The [F1PC] must not carry out any of its functions in a manner which is inconsistent with its financial framework.
(4)The fact that a transaction entered into by the [F1PC] constitutes, or involves, a contravention of sub-paragraph (3) does not invalidate the transaction.
(5)Sub-paragraph (4) applies whether or not a person who entered into the transaction with the [F1PC] inquired whether the transaction constituted or involved a contravention of sub-paragraph (3).
Textual Amendments
F1Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)
Commencement Information
I1Sch. 5 para. 10 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.
Annual reportsE+W+S
11(1)As soon as practicable after the end of each financial year, the [F1PC] must make a report on its activities during that year.E+W+S
(2)In preparing its annual report the [F1PC] must have regard to the desirability of excluding from the report, so far as practicable—
(a)matters relating to the affairs of an individual which, in the opinion of the [F1PC], are matters the publication of which would or might seriously and prejudicially affect the interests of that individual; and
(b)matters relating specifically to the affairs of a particular body of persons (whether corporate or unincorporate) which, in the opinion of the [F1PC], are matters the publication of which would or might seriously and prejudicially affect the interests of that body.
(3)The [F1PC] must send a copy of every annual report under this paragraph to each of the following—
(a)the Secretary of State;
(b)the Scottish Ministers; and
(c)[F2the Welsh Ministers].
(4)The [F1PC] may also arrange for a copy of its annual report for a financial year to be published in such manner as it considers appropriate.
(5)The Secretary of State must lay before Parliament a copy of every annual report a copy of which has been sent to him under this paragraph.
(6)The Scottish Ministers must lay before the Scottish Parliament a copy of every annual report a copy of which has been sent to them under this paragraph.
Textual Amendments
F1Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)
F2Words in Sch. 5 para. 11(3)(c) substituted (13.6.2018) by The Welsh Ministers (Transfer of Functions) (Railways) Order 2018 (S.I. 2018/631), art. 1(2)(b)(xvi), Sch. para. 65
Commencement Information
I2Sch. 5 para. 11 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.
InformationE+W+S
12E+W+SThe [F1PC] must give the Secretary of State information, advice and assistance about any matter in respect of which it has any functions if—
(a)the [F1PC] considers it appropriate to do so; or
(b)the Secretary of State asks the [F1PC] to do so in connection with the carrying out of any function of his.
Textual Amendments
F1Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)
Commencement Information
I3Sch. 5 para. 12 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.