16(1)The [F1Relevant Authority] may from time to time determine accounting requirements for registered social landlords with a view to ensuring that the accounts of every registered social landlord—E+W
(a)are prepared in a proper form, and
(b)give a true and fair view of—
(i)the state of affairs of the landlord, so far as its housing activities are concerned, and
(ii)the disposition of funds and assets which are, or at any time have been, in its hands in connection with those activities.
(2)The [F1Relevant Authority] by a determination under sub-paragraph (1) may lay down a method by which a registered charity is to distinguish in its accounts between its housing activities and other activities.
(3)The accounts of every registered social landlord shall comply with the requirements laid down under this paragraph.
F2(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F3(5)Every registered social landlord shall furnish to the Relevant Authority—
(a)a copy of its accounts, and
(b)(subject to sub-paragraph (7)) a copy of the auditor’s report in respect of them,
within six months of the end of the period to which they relate.
(6)The auditor’s report shall state, in addition to any other matters which it is required to state, whether in the auditor’s opinion the accounts comply with the requirements laid down under this paragraph.
(7)The provisions of sub-paragraphs (5)(b) and (6) do not apply where, by virtue of any enactment—
(a)any accounts of a registered social landlord are not required to be audited, and
(b)instead a report is required to be prepared in respect of them by a person appointed for the purpose (“the reporting accountant”),
and sub-paragraph (8) shall apply in place of those provisions.
(8)In such a case—
(a)the registered social landlord shall furnish to the Relevant Authority a copy of the reporting accountant’s report in respect of the accounts within six months of the end of the period to which they relate; and
(b)that report shall state, in addition to any other matters which it is required to state, whether in the reporting accountant’s opinion the accounts comply with the requirements laid down under this paragraph.]
Textual Amendments
F1Words in Pt. I substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 82(1)(2) (with ss. 139(2), 141(1), 143(2)); S.I. 1998/2244, art.5.
F2Sch. 1 para. 16(4) repealed (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(c), Sch. 11 para. 17(2), Sch. 16
F3Sch. 1 para. 16(5)-(8) substituted for Sch. 1 para. 16(5) (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(c), Sch. 11 para. 17(3)
Modifications etc. (not altering text)
C1Sch. 1 para. 16(3)-(5) extended (16.9.1996) by S.I. 1996/2402, art. 3, Sch. para. 5
Commencement Information
I1Sch. 1 para. 16 wholly in force 1.10.1996; Sch. 1 para. 16 not in force at Royal Assent see s. 232(3) ; Sch. 1 para. 16(1)(2) in force at 1.8.1996 by 1996/2048, art. 2(1); Sch. 1 para. 16 in force at 1.10.1996 to the extent not already in force, by S.I. 1996/2402, art. 3 (subject to the transitional savings in the Sch. to that S.I.)