PART VIIIMISCELLANEOUS

Accounts of the CouncilI146

1

The Council shall—

a

keep accounts in such form as the Privy Council may determine;

b

prepare annual accounts in respect of each financial year, in such form as the Privy Council may determine.

2

The annual accounts shall be audited by persons the Council appoints.

3

No person may be appointed as an auditor under paragraph (2) unless he is eligible for appointment as a company auditor under section 25 of the Companies Act 1989 or article 28 of the Companies (Northern Ireland) Order 1990.

4

As soon as is reasonably practicable after the end of the financial year to which the annual accounts relate, the Council shall—

a

cause them to be published together with any report on them made by the auditors; and

b

send a copy of the annual accounts and of any such report to the Privy Council and to the Comptroller and Auditor General.

5

The Comptroller and Auditor General shall examine, certify and report on the annual accounts.

6

For the purposes of his examination, the Comptroller and Auditor General may inspect the accounts of the Council and any records relating to them.

7

The Privy Council shall lay before each House of Parliament a copy of the annual accounts certified by the Comptroller and Auditor General, any report of the auditors and the report of the Comptroller and Auditor General prepared under paragraph (5).

8

In this article, “financial year” means—

a

the period beginning with the date on which the Council is established and ending with the next 31st March following that date, and

b

each successive period of 12 months ending with 31st March.