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SCHEDULES

SCHEDULE 21E+WMayoral development corporations

Annual report (and “financial year”)E+W

10(1)As soon as reasonably practicable after the end of each financial year, an MDC must—E+W

(a)prepare an annual report on how it has exercised its functions during the year,

(b)include in the report a copy of its audited statement of accounts for the year, and

(c)send a copy of the report to the Mayor and to the London Assembly.

(2)Financial year”, in relation to an MDC, means a period of 12 months ending with 31 March.