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Charities and Trustee Investment (Scotland) Act 2005
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Changes to legislation:
Charities and Trustee Investment (Scotland) Act 2005, Section 44 is up to date with all changes known to be in force on or before 05 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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Changes and effects yet to be applied to Section 44:
- s. 44(1)(d) words substituted by 2023 asp 5 s. 10(2)(a)(ii)
- s. 44(4)(g) words inserted by 2023 asp 5 s. 11(4)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 3(3)(aa) inserted by 2023 asp 5 s. 2(2)(a)
- s. 17(1)(ba) inserted by 2023 asp 5 s. 3(2)
- s. 44(1)(ca) inserted by 2023 asp 5 s. 10(2)(a)(i)
- s. 44(4A) inserted by 2023 asp 5 s. 10(2)(b)
- s. 45B and cross-heading inserted by 2023 asp 5 s. 10(3)
- s. 66A and cross-heading inserted by 2023 asp 5 s. 3(3)
- s. 69(2)(a)(ai) inserted by 2023 asp 5 s. 4(2)(a)(i)
- s. 69(2)(b)(i) words in s. 69(2)(b) renumbered as s. 69(2)(b)(i) by 2023 asp 5 s. 5(2)(a)(i)
- s. 69(2)(b)(i) words inserted by 2023 asp 5 s. 5(2)(a)(ii)
- s. 69(2)(b)(ii) inserted by 2023 asp 5 s. 5(2)(a)(iii)
- s. 69(2)(f)-(i) inserted by 2023 asp 5 s. 5(2)(d)
- s. 69(2)(da)(db) inserted by 2023 asp 5 s. 5(2)(c)
- s. 69(2A) inserted by 2023 asp 5 s. 5(3)(b)
- s. 69(3A) inserted by 2023 asp 5 s. 5(3)(c)
- s. 69(7) inserted by 2023 asp 5 s. 5(3)(e)
- s. 69A inserted by 2023 asp 5 s. 4(3)
- s. 69B inserted by 2023 asp 5 s. 6(2)
- s. 70(4)-(6) inserted by 2023 asp 5 s. 5(4)(b)
- s. 103(5)(ca) inserted by 2023 asp 5 s. 5(5)
- s. 103(5)(cb) inserted by 2023 asp 5 s. 4(4)
44AccountsS
This section has no associated Explanatory Notes
(1)A charity must—
(a)keep proper accounting records,
(b)prepare for each financial year of the charity a statement of account, including a report on its activities in the financial year,
(c)have the statement of account independently examined or audited, and
(d)after such examination or audit, send a copy of the statement of account to OSCR,
in accordance with regulations under subsection (4).
(2)Accounting records kept in pursuance of subsection (1)(a) must be preserved by the charity for 6 years from the end of the financial year [F1to which they relate].
[F2(2A)Where the charity ceases to be a charity before the end of the period mentioned in subsection (2), the records must be preserved for the remainder of that period by—
(a)the body which was the charity, or
(b)where that body ceases to exist, a person notified to OSCR who, immediately before it ceased to exist, was—
(i)a charity trustee of the charity, or
(ii)where the body was not a charity at that time, concerned in the management or control of the body.]
(3)[F3Subsections (2) and (2A) are] without prejudice to any other enactment or rule of law.
(4)The Scottish Ministers may by regulations make provision about the matters referred to in subsection (1) including—
(a)the meaning of “financial year”,
(b)the information to be contained in the accounting records and statement of account,
(c)the manner in which that information is to be presented,
(d)the keeping and preservation of the accounting records,
(e)the methods and principles according to which, and the time by which, the statement of account is to be prepared,
(f)the time by which the copy statement of account is to be sent to OSCR,
(g)examination or audit of the statement of account,
(h)such other matters in relation to the accounts of a charity as the Scottish Ministers think necessary or expedient.
(5)Regulations under subsection (4) may make different provision in relation to different types of charity, including provision exempting charities of a particular type from some or all of the requirements of this section.
Textual Amendments
F1Words in s. 44(2) substituted (1.4.2024) by Charities (Regulation and Administration) (Scotland) Act 2023 (asp 5), s. 21(2), sch. para. 12(2); S.S.I. 2024/63, reg. 2(1), sch. Pt. 1
F2S. 44(2A) inserted (1.4.2024) by Charities (Regulation and Administration) (Scotland) Act 2023 (asp 5), s. 21(2), sch. para. 12(3); S.S.I. 2024/63, reg. 2(1), sch. Pt. 1
F3Words in s. 44(3) substituted (1.4.2024) by Charities (Regulation and Administration) (Scotland) Act 2023 (asp 5), s. 21(2), sch. para. 12(4); S.S.I. 2024/63, reg. 2(1), sch. Pt. 1
Commencement Information
I1S. 44 in force at 1.1.2006 for specified purposes by S.S.I. 2005/644, art. 2(1), Sch. 1
I2S. 44 in force at 1.4.2006 in so far as not already in force by S.S.I. 2006/189, art. 2(1), Sch. Pt. 1
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