SCHEDULES

SCHEDULE 1Assets Recovery Agency

Section 1

1Director’s terms of appointment

1

The Director holds office for the period determined by the Secretary of State on his appointment (or re-appointment) to the office.

2

But—

a

the Director may at any time resign by giving notice to the Secretary of State;

b

the Secretary of State may at any time remove the Director from office if satisfied that he is unable or unfit to exercise his functions.

2

Subject to that, the Director holds office on the terms determined by the Secretary of State with the approval of the Minister for the Civil Service.

3Staff

1

The members of staff of the Agency must include—

a

a deputy to the Director who is to act as Director during any vacancy in that office or if the Director is absent, subject to suspension or unable to act, and

b

an assistant to the Director with responsibilities in relation to the exercise of the Director’s functions in Northern Ireland.

2

But the Director must not appoint a person under sub-paragraph (1)(b) unless he first consults the Secretary of State.

4

The members of staff of the Agency hold office on the terms determined by the Director with the approval of the Minister for the Civil Service.

5Finances

1

These amounts are to be paid out of money provided by Parliament—

a

the remuneration of the Director and the staff of the Agency;

b

any expenses incurred by the Director or any of the staff in the exercise of his or their functions.

2

Subject to anything in this Act any sums received by the Director are to be paid into the Consolidated Fund.

6Annual plan

1

The Director must, before the beginning of each financial year apart from the first, prepare a plan setting out how he intends to exercise his functions during the financial year (an annual plan).

2

The annual plan must, in particular, set out how the Director intends to exercise his functions in Northern Ireland.

3

The annual plan must also include a statement of—

a

the Director’s objectives for the financial year;

b

any performance targets which he has for the financial year (whether or not relating to his objectives);

c

his priorities for the financial year;

d

the financial resources expected to be available to him for the financial year;

e

his proposed allocation of those resources.

4

Once the annual plan has been prepared the Director must send a copy to the Secretary of State for his approval.

5

If the Secretary of State does not approve the annual plan—

a

he must give the Director his reasons for not approving it, and

b

he may require the Director to revise it in the manner specified by the Secretary of State.

6

The Director must revise the annual plan, but if sub-paragraph (5)(b) applies he must do so in the manner specified by the Secretary of State.

7

The Director must send a copy of the revised annual plan to the Secretary of State for his approval.

7Annual report

1

The Director must, as soon as possible after the end of each financial year, prepare a report on how he has exercised his functions during the financial year.

2

The report for any financial year apart from the first must include—

a

the Director’s annual plan for the financial year, and

b

an assessment of the extent to which it has been carried out.

3

The Director must send a copy of each report to the Secretary of State who must—

a

lay a copy of it before each House of Parliament, and

b

arrange for it to be published.

8Meaning of “financial year”

In this Schedule “financial year” means—

a

the period beginning with the day on which section 1 comes into force and ending with the next 31 March (which is the first financial year), and

b

each subsequent period of twelve months beginning with 1 April.