Local Government, Planning and Land Act 1980

Accounts and records about land

4 (1) The Authority shall—

(a) keep such accounts and records, and

(b) prepare and submit to the Secretary of State such statements of account,

relating to the acquisition, holding and disposal of land as the Secretary of State may with the approval of the Treasury direct.

(2) Directions under sub-paragraph (1) above may in particular relate to—

(a) the items which are or are not to be included in the accounts, and the kinds of transactions which are to be recorded, and

(b) the form and manner in which the statements of accounts are to be prepared and the times at which they are to be submitted to the Secretary of State.

(3) Money to be credited to an account kept under this paragraph shall not be applied by the Authority for any purpose without the consent of the Secretary of State.

(4) Where any item debited to an account kept under this paragraph has been defrayed by borrowing, the Authority shall not be required, notwithstanding anything in any enactment, to make any annual provision for the repayment of the capital.

(5) The Authority shall supply the Secretary of State—

(a) with such information as the Secretary of State may specify to enable him to ascertain the state of any account or record kept, or to verify any statement of account submitted to him, under this paragraph, and

(b) with such certificates supporting the information as the Secretary of State may specify.

(6) The Secretary of State may publish in such manner as appears to him appropriate—

(a) statements of account submitted to him under this paragraph, and

(b) any information obtained by him under sub-paragraph (5) above.