Supplementary and general

Meaning of “the audited net relevant resources”, “the value of the Reserve Fund” and “the income account net surplus of the Crown Estate”
12
1
For the purposes of this Act—
- “the audited net relevant resources” used for a financial year are the amount of net relevant resources used for that year stated in the statement of accounts certified by the Comptroller under section 2,
- “the value of the Reserve Fund” at the end of a financial year is the value of the Reserve Fund at the end of that year stated in the statement of accounts certified by the Comptroller under section 4, and
- “the income account net surplus of the Crown Estate” for a financial year is the amount of that surplus stated in the statement of accounts certified by the Comptroller under section 2 of the Crown Estate Act 1961;
but this is subject to subsection (2).
2
If a relevant report on a statement of accounts contains a qualification (however expressed) that affects or might affect the amount or value stated in the statement as the amount or value of a relevant figure—
a
the Comptroller must certify in the relevant report the amount or value which the Comptroller considers to be the amount or value of the relevant figure, and
b
for the purposes of this Act the relevant figure is to be taken to be the amount or value certified.
3
For this purpose—
- “relevant report” means a report made by the Comptroller under section 2 or 4 of this Act or section 2 of the Crown Estate Act 1961, and
- “relevant figure” means—
  1. the amount of net relevant resources used for a financial year,
  2. the value of the Reserve Fund at the end of a financial year, or
  3. the amount of the income account net surplus of the Crown Estate for a financial year.
For duration of Sovereign Grant provisions (ss. 1-9, 11, 12) see s. 16(1)-(3)
S. 12: the Sovereign Grant provisions are continued (11.9.2022) and will now expire 6 months after the end of the present reign by The Sovereign Grant Act 2011 (Duration of Sovereign Grant Provisions) Order 2022 (S.I. 2022/954), arts. 1(2), 2