Section 18 – Duty to keep separate account for scheme
45.Under this section, a local authority is required to keep a separate account for the VL scheme (subsection (1)) which must, for each financial year, be credited with the monies received under the scheme and debited with the expenses of operating the scheme (subsection (2)). This section also contains a regulation making power, subject to the negative procedure, allowing the Scottish Minsters to make provision in relation to the keeping of accounts by local authorities in connection with their functions under the Act (subsection (3)). The type of provision which can be made under this power includes specifying the form of accounts and making provision about the keeping of accounts where a joint VL scheme is in place (subsection (4)).
