Sea Fish Industry Act 1970

21 Authority's accounts and reports

(1) The Authority shall keep proper accounts with respect to the White Fish Industry Fund, and shall prepare in respect of each financial year a statement of accounts in such form and giving such information as may be directed by the Ministers with the approval of the Treasury.

(2) The accounts shall be audited and the statement certified by persons to be appointed in respect of each financial year by the Ministers, and the auditors shall be furnished by the Authority with copies of the said statement and shall report to the Ministers on the accounts and the said statement.

(3) No person shall be qualified to be appointed auditor under this section unless he is a member of one or more of the following bodies:—

• The Institute of Chartered Accountants in England and Wales;

• The Institute of Chartered Accountants of Scotland ;

• The Association of Certified and Corporate Accountants;

• The Institute of Chartered Accountants in Ireland.

(4) As soon as the accounts have been audited, the auditors shall send the Ministers copies of the statement of accounts and their certificate on it, and of their report.

(5) As soon as possible after the end of any financial year, the Authority shall also prepare and submit to the Ministers a report of their proceedings in that year.

(6) The Ministers shall lay before Parliament copies of the Authority's report for any financial year, together with copies of the statement of accounts and auditors' certificate and of the auditors' report for that year.

(7) So long as the Secretary of State concerned with the sea fishing industry in Wales continues to exercise functions under section 22(6) of this Act, the references in this section to the Ministers shall be construed as including a reference to that Secretary of State.