(1)An industrial training board shall keep proper accounts and other records in relation to the accounts and prepare in respect of each of its financial years a statement of account in such form as the [F1Secretary of State may, with the approval of] the Treasury, determine.
(2)The accounts of an industrial training board shall be audited by auditors appointed by the board and no person [F2shall be so appointed unless he is eligible for appointment as a company auditor under section 25 of the Companies Act 1989.]
(3)An industrial training board shall for each of its financial years make a report of its activities to the [F3Secretary of State] and that report shall include a statement of the accounts of the board for that year together with a copy of any report made by the auditors on the accounts.
(4)The [F4Secretary of State] shall lay a copy of every such report before Parliament.
Textual Amendments
F1Words substituted by Employment Act 1989 (c. 38, SIF 43:1), s. 22(4), Sch. 4 para. 7(2)
F3Words substituted by Employment Act 1989 (c. 38, SIF 43:1), s. 22(4), Sch. 4 para. 7(3)
F4Words substituted by Employment Act 1989 (c. 38, SIF 43:1), s. 22(4), Sch. 4 para. 7(4)