[F1 9A Duty to obtain accountant’s reports where section 4 applied.E+W+S
(1)Subsection (2) of this section applies where—
(a)at the end of a society’s year of account a disapplication under section 4A(1) of this Act is in force in relation to the year, and
(b)the society’s turnover in the preceding year of account exceeded £90,000.
(2)The society shall, before the end of the period of 28 days beginning immediately after the end of the year of account, appoint an appropriate person to make—
(a)a report on the society’s accounts and balance sheet for the year which meets the requirements of subsection (3) of this section, and
(b)a report relating to the preceding year of account which meets the requirement of subsection (4) of this section.
(3)A report for the purposes of subsection (2)(a) of this section shall—
(a)state whether, in the opinion of the person making the report, the revenue account or accounts, the other accounts (if any) to which the report relates, and the balance sheet are in agreement with the books of account kept by the society under section 1 of this Act, and
(b)state whether, in that person’s opinion, on the basis of the information contained in those books of account, the revenue account or accounts and the balance sheet comply with the requirements of this Act and the appropriate registration Act.
(4)A report for the purposes of subsection (2)(b) of this section shall state whether in the opinion of the person making the report the financial criteria for the exercise of the power conferred by section 4A(1) of this Act were met in relation to the year.
(5)In subsection (2) of this section, the reference to an appropriate person is to a person who is—
(a)a qualified auditor for the purposes of this Act, and
(b)not ineligible by virtue of section 8(1) of this Act to be appointed as auditor of the society.
(6)In this section, “turnover" has the same meaning as in section 4A of this Act.]
Textual Amendments
F1S. 9A inserted (1.9.1996) by S.I. 1996/1738, arts. 1, 8(2)
Modifications etc. (not altering text)
C1S. 9A modified by 1996 c. 52, Sch. 1 para. 17(2) (as inserted) (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(c), Sch. 11 para. 19)