Electricity Act 1957

10 (1) Notwithstanding the definition of " financial year " in subsection (1) of section sixty-seven of the principal Act, or any regulations made for the purposes of that definition.—

(a) the period beginning with the first day of April, nineteen hundred and fifty-seven, and ending with the thirty-first day of December, nineteen hundred and fifty-seven (in this paragraph referred to as " the 1957 period "), shall, for all the purposes of the principal Act, be taken to be a financial year of the Central Authority and of each of the Area Boards; and

(b) so much (if any) of the period beginning with the first day of January, nineteen hundred and fifty-eight, and ending with the thirty-first day of March, nineteen hundred and fifty-eight, as (apart from this paragraph) would not have been comprised in the first financial year of the Electricity Council, or of the Generating Board, or, in the case of any of the Area Boards, would not have been comprised in the first financial year of that Board beginning after the end of the 1957 period, shall, for all the purposes of the principal Act and of this Act, be treated as added to, and incorporated in, that first financial year.

(2) The Electricity Council and the Generating Board shall be jointly responsible for the annual report of the Central Authority for the 1957 period (which, in accordance with the preceding sub-paragraph, will constitute a financial year of the Authority) and for the accounts and audit of the Central Authority for that period, but only so far as may be necessary—

(a) for completing that report and submitting it to the Minister;

(b) for completing those accounts; and

(c) for sending to the Minister a copy of the statement of those accounts and of any report of the auditors thereon;

and the provisions of section ten of this Act and of section forty-six of the principal Act shall apply accordingly with the necessary modifications.