Textual Amendments
F1Sch. 1A inserted (3.5.1994) by 1993 c. 39, s. 48(6), Sch. 7 Pt.II; S.I. 1994/1055, art. 2
Textual Amendments
F2Sch. 1A inserted (3.5.1994) by 1993 c. 39, s. 48(6), Sch. 7 Pt. II; S.I. 1994/1055, art. 2
F313(1)Subject to sub-paragraph (10) below, where the total value of the tickets or chances sold in all lotteries held in any one year and promoted on behalf of the same society is more than £100,000 and any of those lotteries is a lottery to which section 5(3B), (3C) or (3D) above applies, the society shall send to the Board accounts in respect of those lotteries together with a report on the accounts prepared by a qualifying auditor.E+W+S
(2)The accounts shall be sent to the Board within ten months of the end of the year in which the lotteries to which they relate were held.
(3)Accounts under this paragraph shall comply with any directions given by the Board as to the information to be contained in such accounts, the manner in which such information is to be presented or the methods and principles according to which such accounts are to be prepared.
(4)Any directions under sub-paragraph (3) above shall be given in writing and may be varied or revoked by subsequent directions.
(5)In sub-paragraph (1) above “qualifying auditor” means a person who—
(a)is eligible for appointment as a company auditor under section 25 of the M1Companies Act 1989; and
(b)is not disqualified by sub-paragraph (6) below.
(6)The following persons are disqualified—
(a)a member of the society;
(b)a partner, officer or employee of such a member;
(c)a partnership of which a person disqualified by paragraph (a) or (b) above is a member.
(7)The auditor’s report on any accounts under this paragraph shall state whether in the auditor’s opinion the accounts have been properly prepared in accordance with any directions given under sub-paragraph (3) above.
(8)The auditor shall, in preparing his report, carry out such investigations as will enable him to form an opinion as to—
(a)whether proper accounting records have been kept by the society; and
(b)whether the society’s accounts are in agreement with the accounting records.
(9)If the auditor fails to obtain all the information and explanations that, to the best of his knowledge and belief, are necessary for the purposes of his audit, his report shall state that fact.
(10)Sub-paragraph (1) above does not apply to a society in relation to any year if the promotion of every lottery promoted on behalf of the society held in that year is managed by a person certified under Schedule 2A below as a lottery manager.
(11)For the purposes of this paragraph a lottery is held in the year in which the date of the lottery falls.
(12)In this paragraph “year” means a period of twelve months beginning with 1st January.]
Textual Amendments
F3Sch. 1A inserted (3.5.1994) by 1993 c. 39, s. 48(6), Sch. 7 Pt. II; S.I. 1994/1055, art. 2
Marginal Citations