Local Government, Planning and Land Act 1980

Accounts and audit

3 (1) The Authority shall—

(a) keep proper accounts and proper records in relation to the accounts, and

(b) prepare in respect of each accounting year a statement of accounts, in such form as the Secretary of State may with the approval of the Treasury require, showing the state of affairs and the profit or loss of the Authority, and

(c) on or before 30th November in any year transmit to the Comptroller and Auditor General the statement of accounts of the Authority for the accounting year last ended.

(2) The Comptroller and Auditor General shall examine and certify the statement of accounts transmitted to him under subparagraph (1) above, and lay copies of it together with his report thereon before each House of Parliament.

(3) The Secretary of State shall for each financial year prepare, in such form and manner as the Treasury may approve, an account of—

(a) sums issued to the Secretary of State in pursuance of paragraph 1 above (or section 10 of the 1975 Act), and the disposal by the Secretary of State of those sums ;

(b) sums required to be paid into the National Loans Fund in pursuance of paragraph 1 above (or section 10 of the 1975 Act);

and shall send a copy of the account to the Comptroller and Auditor General not later than the end of November next following that year; and the Comptroller and Auditor General shall examine, certify and report on the account and shall lay copies of it and of his report on it before Parliament.