SCHEDULES
C3SCHEDULE 1 The Financial Services Authority
C1C2Part I General
Sch. 1 Pt. 1 modified (15.12.2007) by The Transfer of Funds (Information on the Payer) Regulations 2007 (S.I. 2007/3298), reg. 4(4)
Sch. 1 Pt. 1 applied (27.11.2008) by Counter-Terrorism Act 2008 (c. 28), ss. 62, 100(2), Sch. 7 para. 41(1) (with s. 101(2), Sch. 7 para. 43)
Annual report
10
1
At least once a year the Authority must make a report to the Treasury on—
a
the discharge of its functions;
b
the extent to which, in its opinion, the regulatory objectives have been met;
c
its consideration of the matters mentioned in section 2(3); and
d
such other matters as the Treasury may from time to time direct.
2
The report must be accompanied by—
a
the report prepared by the non-executive committee under paragraph 4(6); and
b
such other reports or information, prepared by such persons, as the Treasury may from time to time direct.
3
The Treasury must lay before Parliament a copy of each report received by them under this paragraph.
4
The Treasury may—
a
require the Authority to comply with any provisions of F1the Companies Act 2006 about accounts and their audit which would not otherwise apply to it; or
b
direct that any such provision of that Act is to apply to the Authority with such modifications as are specified in the direction.
5
Compliance with any requirement imposed under sub-paragraph (4)(a) or (b) is enforceable by injunction or, in Scotland, an order under section 45(b) of the M1Court of Session Act 1988.
6
Proceedings under sub-paragraph (5) may be brought only by the Treasury.
Sch. 1 extended (17.8.2001) by S.I. 2001/2617, arts. 2(a), 4(3), 8, Sch. 2 para. 2