Part VIII Financial Provisions
New authorities
72 Accounts and audit.
C1C21
Each new authority shall keep a fund to be known as the general fund; and all receipts of the authority shall be carried to that fund and all liabilities falling to be discharged by the authority shall be discharged out of that fund.
C1C22
Accounts shall be kept of receipts carried to, and payments made out of, the general fund.
F13
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C1C24
Nothing in subsection (1) above shall be construed as requiring or authorising an authority to apply or dispose of the surplus revenue arising from any undertaking carried on by it otherwise than in accordance with any enactment or instrument applicable to the undertaking.
F25
Any reference in this section to a new authority includes a reference to—
a
F3the London Fire Commissioner;
b
a sub-national transport body established under section 102E of the Local Transport Act 2008;
c
a combined authority established under section 103 of the Local Democracy, Economic Development and Construction Act 2009.