SCHEDULES

SCHEDULE 31 Urban Development Corporations: Finance etc.

Part III General Accounts etc.

Audit

11

1

F4The accounts and statements of accounts of a corporation to which paragraph F610B does not apply shall be audited by an auditor to be appointed annually by the Secretary of State in relation to the corporation.

F12

A person shall not be appointed under sub-paragraph (1) unless he is eligible for appointment as a F5statutory auditor under Part 42 of the Companies Act 2006.

3

A person shall not be qualified for appointment under sub-paragraph (1) above if the person is—

a

a member, officer or servant of the corporation, F2; or

b

a partner of, or employed by, a member, officer or servant of the corporation, or

F3c

a body corporate of which a member, officer or servant of the corporation is a director or officer.