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Electricity Act 1957
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11Consolidated statements of accounts
(1)In addition to the statements of accounts required by section forty-six of the principal Act, the Electricity Council shall prepare, in respect of each financial year beginning on or after the vesting date, a consolidated statement of accounts of the Council, the Generating Board and the Area Boards for that year in such form as the Minister, with the approval of the Treasury, may direct, being a form which shall conform with the best commercial standards.
(2)The form of a consolidated statement under this section shall be such as to provide separate information with respect to the generation of electricity, the distribution of electricity, and each of the other main activities of the electricity supply industry in England and Wales, and to show as far as may be the financial and operating results of each such activity,
(3)The consolidated statement prepared under this section for a financial year shall be submitted to the auditors appointed by the Minister to audit the accounts of the Electricity Council for that year, and those auditors shall make a report on the statement.
(4)As soon as the auditors have made a report on a consolidated statement prepared under this section, the Electricity Council shall send a copy of the statement and of that report to the Minister; and copies of the statement and report shall be made available to the public at a reasonable price.
(5)The Minister shall lay before each House of Parliament a copy of every statement prepared under this section and of the report of the auditors thereon.
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