Local Government etc. (Scotland) Act 1994

87 Accounts

(1) It shall be the duty of a new water and sewerage authority—

(a) to keep proper accounts and proper records in relation to the accounts; and

(b) to prepare in respect of each financial year a statement of accounts giving a true and fair view of the state of affairs and the income and expenditure of the authority in question.

(2) Every statement of accounts prepared by an authority in accordance with this section shall comply with any requirement which the Secretary of State has, with the consent of the Treasury, notified in writing to the authority and which relates to—

(a) the information to be contained in the statement;

(b) the manner in which that information is to be presented; or

(c) the methods and principles according to which the statement is to be prepared.

(3) In this Part of this Act “financial year” means any period of twelve months ending with, and including, the last day of March.