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Pensions Act 2007

Part 3: Money

429.Paragraph 18 provides for the Secretary of State, subject to Treasury consent, to make grants to the Authority out of money provided by Parliament.

430.Paragraph 19 provides that the Authority must prepare, in such a format as the Secretary of State may direct, an annual statement of accounts, and must send a copy to the Secretary of State within such a period as he may direct. The Authority must also send a copy of the statement to the Comptroller and Auditor General who will report on the statement. The Secretary of State will lay a copy of the statement and the Comptroller and Auditor General’s report on the statement before Parliament.

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