Regional Development Agencies Act 1998

14 Accounts and records. E+W

(1) A regional development agency shall—

(a) keep proper accounts and proper accounting records, and

(b) prepare in respect of each accounting period a statement of accounts giving a true and fair view of the state of affairs and the income and expenditure of the agency.

(2) Every statement of accounts prepared under subsection (1) shall comply with any requirement which the Secretary of State has, with the consent of the Treasury, notified in writing to the agency and which relates to any of the following matters, namely—

(a) the information to be contained in the statement,

(b) the manner in which that information is to be presented, or

(c) the methods and principles according to which the statement is to be prepared.

(3) Subject to subsections (4) and (5), “accounting period”, in relation to a regional development agency, means a period beginning with 1st April and ending with the next 31st March.

(4) The Secretary of State may, in relation to an accounting period of a regional development agency, direct that the period shall end with such date other than the next 31st March as may be specified in the direction.

(5) Where the Secretary of State has given a direction under subsection (4), the following accounting period of the agency to which the direction was given shall begin with the day after the date specified in the direction and, subject to any further direction under subsection (4), shall end with the next 31st March.

(6) In this section, “accounting records”, in relation to a regional development agency, includes all books, papers and other records of the agency relating to, or to matters dealt with in, the accounts required to be kept by this section.

[F1 (7) This section does not have effect in relation to the London Development Agency.]

Textual Amendments

F1 S. 14(7) inserted (3.7.2000) by 1999 c. 29, s. 309, Sch. 25 para. 9 (with Sch. 12 para. 9(1)); S.I. 2000/801, art. 2(2)(c), Sch. Pt. 3

Modifications etc. (not altering text)

C1 S. 14 applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (Yorkshire and the Humber Operational Programme) (Implementation) Regulations 2007 (S.I. 2007/3619), regs. 1(1), 6

C2 S. 14 applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (South East Operational Programme) (Implementation) Regulations 2007 (S.I. 2007/3620), regs. 1(1), 6

C3 S. 14 applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (North West Operational Programme) (Implementation) Regulations 2007 (S.I. 2007/3622), regs. 1(1), 6

C4 S. 14 applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (North East Operational Programme) (Implementation) Regulations 2007 (S.I. 2007/3621), regs. 1(1), 6

C5 S. 14 applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (West Midlands Operational Programme) (Implementation) Regulations 2007 (S.I. 2007/3618), regs. 1(1), 6

C6 S. 14(1)(b) applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (East Midlands Operational Programme) (Implementation) Regulations 2007 (S.I. 2007/3625), regs. 1(1), 6

C7 S. 14(1)(b) applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (South West Operational Programmes) (Implementation) Regulations 2007 (S.I. 2007/3623), regs. 1(1), 6

C8 S. 14(1)(b) applied (with modifications) (E.) (31.1.2008) by The European Regional Development Fund (East of England Operational Programme) (Implementation) Regulations 2007 (S.I. 2007/3624), regs. 1(1), 6

Commencement Information

I1 S. 14 wholly in force at 3.7.2000; s. 14 not in force at Royal Assent see s. 43; s. 14 in force for certain purposes at 25.11.1998 by S.I. 1998/2952, art. 2(2); s. 14 in force at 3.7.2000 in so far as not already in force by S.I. 2000/1173, art. 2(2)(c)