SCHEDULES

SCHEDULE 3The Competition Service

Part 1Constitution etc.

12

1

The Service shall—

a

prepare a statement of accounts in respect of each of its financial years; and

b

prepare a statement of accounts for the Tribunal for each of its financial years.

2

The Service must send copies of the accounts required by sub-paragraph (1) to the Secretary of State and to the Comptroller and Auditor General before the end of August following the financial year to which they relate.

3

Those accounts must comply with any directions given by the Secretary of State with the approval of the Treasury as to—

a

the information to be contained in them;

b

the manner in which that information is to be presented; and

c

the methods and principles according to which they are to be prepared.

4

The Comptroller and Auditor General shall—

a

examine, certify and report on each statement of accounts received by him; and

b

lay copies of each statement before Parliament.

5

In this paragraph “financial year” means the period of 12 months ending with 31st March.