The Llanelli Harbour Revision Order 1997

Final accounts of Trust up to transfer date

8.—(1) Where the financial year dealt with in the last statement of accounts prepared by the Trust before the transfer date does not end immediately before that date, the statutory accounts prepared by the Council in respect of a period which includes or consists of the whole or any part of the residual accounting period shall deal with the affairs of the Trust during so much of the residual accounting period as falls within that period as well as, and as one with, the affairs of the Council so far as relating to the harbour undertaking.

(2) In this article—

“financial year”, in relation to the Trust, means any period of twelve months ending with 31st March;

“statutory accounts” means—

(a)

in relation to the Trust, any statement of accounts prepared by the Trust under section 42 of the Harbours Act 1964(1); and

(b)

in relation to the Council, any statement of accounts relating to the harbour undertaking prepared by the Council under section 42 of the Harbours Act 1964;

and references in this article to the residual accounting period of the Trust are references to the period, if any, beginning with the day after the end of the financial year of the Trust dealt with in the last statement of accounts prepared by the Trust under section 42 of the Harbours Act 1964 before the transfer date and ending with the day before the transfer date.

(1)

1964 c. 40: section 42 was substituted by the Transport Act 1981 (c. 56), section 18(1) and Schedule 6, paragraph 10, and amended by the Companies Act 1989 (c. 40), Schedule 10, paragraph 26.