http://www.legislation.gov.uk/ukpga/1968/16/section/39/enactedNew Towns (Scotland) Act 1968Planning (town and country)Road worksCompulsory purchaseLegislationRights of wayKing's Printer of Acts of Parliament2020-04-24 39 1 Every development corporation shall keep proper accounts and other records in relation thereto, and shall prepare in respect of each financial year annual accounts in such form as the Secretary of State may with the approval of the Treasury direct 2 The accounts of every development corporation shall be audited by an auditor to be appointed annually by the Secretary of State. 3 No person shall be qualified to be so appointed auditor unless he is a member, or a firm of which all the partners are members, of one or more of the following bodies:— the Institute of Chartered Accountants of Scotland; the Institute of Chartered Accountants in England and Wales; the Association of Certified and Corporate Accountants; the Institute of Chartered Accountants in Ireland; any other body of accountants established in the United Kingdom and for the time being recognised for the purposes of section 161(1)(a) of the Companies Act 1948 by the Board of Trade. 4 As soon as the annual accounts of a development corporation for any financial year have been audited, the corporation shall send to the Secretary of State a copy of the accounts prepared by them for that year in accordance with this section, together with a copy of any report made by the auditor thereon. 5 The Secretary of State shall prepare in respect of each financial year, in such form and manner and at such times as the Treasury may direct, an account of the sums issued to him out of the Consolidated Fund and advanced to a development corporation under this Act and of sums received by him from that development corporation and paid into the Exchequer in respect of the principal of and interest on sums so advanced. 6 On or before 30th November in each year, the Secretary of State shall transmit to the Comptroller and Auditor General the account prepared by him under subsection (5) above in respect of the last foregoing financial year ; and the Comptroller and Auditor General shall examine and certify the account prepared by the Secretary of State and lay before each House of Parliament copies of that account together with his report thereon. 7 As soon as possible after the end of each financial year every development corporation shall make to the Secretary of State a report dealing generally with the operations of the corporation during that year, and shall include in the report a copy of their audited accounts for that year ; and the Secretary of State shall lay a copy of every such report before each House of Parliament. 8 Without prejudice to the requirement imposed by subsection (7) above, every development corporation shall provide the Secretary of State with such information relating to their undertaking as the Secretary of State may from time to time require, and for that purpose shall permit any person authorised by the Secretary of State in that behalf to inspect and make copies of the accounts, books, documents or papers of the corporation and shall afford such explanation thereof as that person or the Secretary of State may reasonably require. 9 The financial year of every development corporation shall begin with 1st April, and references to a financial year in relation to a development corporation shall be construed accordingly. 1948 c. 38.