7.—(1) Section 78(1), (2) and (3) of the 1985 Act shall have effect as if references to a residuary body included references to the Authority.
(2) The Secretary of State may give directions to the Authority requiring it—
(a)to keep accounts in respect of such matters and records relating to them as may be specified in the direction;
(b)to comply with such methods and principles as may be so specified with respect to any accounts or records kept by them;
(c)to make such provision as he may specify for the exercise of any rights of public inspection; and
(d)to take such steps as he may specify to inform the public of any such rights as are referred to in sub-paragraph (c);and it shall be the duty of the Authority to comply with any such directions.
(3) Subject to sub-paragraph (4) below, section 79 of the 1985 Act shall have effect as if references to a residuary body included references to the Authority.
(4) Notwithstanding sub-section (2) of section 79 of the 1985 Act, section 22(2) of the Local Government Finance Act 1982(1) (power of Secretary of State to direct extraordinary audit) shall apply in relation to the Authority and its accounts.