(1)The Keeper of Her Majesty’s Privy Purse (referred to in this Act as “the Keeper”) must keep proper accounting records relating to the Royal Household.
(2)As soon as practicable after the end of a financial year (“the financial year”), the Keeper must—
(a)prepare a statement of accounts of the Royal Household for that year, and
(b)give a copy of the statement to the Comptroller and Auditor General (referred to in this Act as “the Comptroller”).
(3)The statement of accounts—
(a)must state the amount of net relevant resources used for the financial year, and
(b)subject to that, must be prepared in accordance with any directions given by the Treasury to the Keeper.
(4)The directions that may be given include directions as to—
(a)the information to be contained in the statement and how it is to be presented,
(b)the methods and principles in accordance with which the statement is to be prepared, and
(c)any additional information that is to accompany the statement.
(5)As soon as practicable after receiving the statement of accounts, the Comptroller must—
(a)examine, certify and report on the statement, and
(b)give a copy of the report and statement to the Treasury.
(6)The Treasury must—
(a)lay a copy of the report and statement of accounts before Parliament, and
(b)give a copy of the report and statement to the Royal Trustees.
(7)For the purposes of subsection (3)(a) the amount of net relevant resources used for a financial year is—
(a)the amount of resources used for that year by the Royal Household in support of Her Majesty’s official duties, minus
(b)the amount of income of the Royal Household for that year (excluding the Sovereign Grant).
(8)For the purposes of Part 2 of the National Audit Act 1983 (economy, efficiency and effectiveness examinations) the Royal Household is to be treated as a body within section 6(3)(c) of that Act.