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New Towns and Urban Development Corporations Act 1985
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9 Accounts: contents and period of final financial year.E+W
Section 67 of the M1New Towns Act 1981 (accounts of development corporations and Commission) shall be amended as follows—
(a)in subsection (1) (form of accounts), for paragraph (b) there shall be substituted the following—
“(b)shall respectively prepare in respect of each financial year annual accounts in such form as the Secretary of State may with the Treasury’s approval direct, being, in the Commission’s case, in a form which will show their financial position generally and also, if so directed, their financial position in relation to such towns, such combinations of towns, or such other parts of their undertaking as are specified in the direction,” and
(b)in subsection (2) (the financial year), for the words after “1st April" there shall be substituted the words “but, if the Secretary of State, with the approval of the Treasury, so directs in a case where a development corporation or the Commission is to be dissolved, the final financial year of the corporation or the Commission shall be such period as is specified in the direction, and references in this Act to a financial year in relation to a development corporation or the Commission shall be construed accordingly.".
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