New Towns Act 1981

69 Secretary of State's accounts

(1) 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—

(a) an account of the sums issued to him and advanced to the Commission under this Act, of sums received by him from the Commission and paid into the National Loans Fund in respect of the principal of and interest on sums so advanced, and of sums received by him from the Commission under section 65 above, and

(b) an account of the sums issued to him and advanced to a development corporation under this Act and of sums received by him from the development corporation and paid into the National Loans Fund in respect of the principal of and interest on sums so advanced,

and directions under this subsection may make different provisions as regards the Commission and as regards a development corporation.

(2) On or before 30th November in each year, the Secretary of State shall transmit to the Comptroller and Auditor General—

(a) the account prepared by the Secretary of State under subsection (1)(a) above in respect of the last foregoing financial year, and

(b) the account prepared by him under subsection (1)(b) in respect of the last foregoing financial year,

and the Comptroller and Auditor General shall examine and certify every account so prepared by the Secretary of State and lay before each House of Parliament copies of each such account together with his report on it.