Financial position
35.—(1) The registered provider shall carry on the children’s home in such manner as is likely to ensure that the home will be financially viable for the purpose of achieving the aims and objectives set out in its statement of purpose.
(2) The registered person shall –
(a)ensure that adequate accounts are maintained and kept up to date in respect of a children’s home;
(b)supply a copy of the accounts to the Regulation and Improvement Authority at its request.
(3) The registered person shall provide the Regulation and Improvement Authority with such information as it may require for the purpose of considering the financial viability of the children’s home, including –
(a)the annual accounts of the home certified by an accountant;
(b)a reference from a bank expressing an opinion as to the registered provider’s financial standing;
(c)information as to the financing and financial resources of the home;
(d)where the registered provider is a company, information as to any of its associated companies; and
(e)a certificate of insurance for the registered provider in respect of liability which may be incurred by him in relation to the home in respect of death, injury, public liability, damage or other loss.
(4) In this regulation a company is an associated company of another if one of them has control of the other or both are under the control of the same person.