SCHEDULES

SCHEDULE 31 Urban Development Corporations: Finance etc.

Part III General Accounts etc.

Accounts

10

1

A corporation shall keep proper accounts and other records in relation to them.

2

The accounts and records shall show, in respect of the financial year to which they relate, a true and fair view of the corporation’s activities.

3

A corporation shall prepare in respect of each financial year a statement of accounts complying with any requirement which the Secretary of State has (with the Treasury’s consent) notified in writing to the corporation relating to—

a

the information to be contained in the statement;

b

the manner in which the information is to be presented; and

c

the methods and principles according to which the statement is to be prepared.

4

Subject to any requirement notified to be corporation under sub-paragraph (3) above, in preparing any statement of accounts in accordance with that sub-paragraph the corporation shall follow, with respect to each of the matters specified in paragraphs (a) to (c) of that sub-paragraph, such course as may for the time being be approved by the Secretary of State with the Treasury’s consent.

F110A

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