[F1[F2Industrial and provident societies exempt from audit requirements: accountant’s reportE+W+S
Textual Amendments
F1Sch. 1 para. 16A and cross-heading inserted (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(c), Sch. 11 para. 18
F2Sch. 1 para. 17 and cross-heading substituted (18.1.2005) by Housing Act 2004 (c. 34), s. 270(3)(c), Sch. 11 para. 19
17(1)This paragraph applies to registered social landlords which are industrial and provident societies.E+W+S
(2)Section 9A of the Friendly and Industrial and Provident Societies Act 1968 (duty to obtain accountant’s reports where section 4 applied) shall have effect, in its application to such a landlord, with the omission of subsection (1)(b) (accountant’s report required only where turnover exceeds a specified sum).
(3)The Relevant Authority may, in respect of any relevant year of account of such a landlord, give a direction to the landlord requiring it—
(a)to appoint a qualified auditor to audit its accounts and balance sheet for that year, and
(b)to furnish to the Relevant Authority a copy of the auditor’s report by such date as is specified in the direction.
(4)For the purposes of sub-paragraph (3), a year of account of a landlord is a “relevant year of account”if—
(a)it precedes that in which the direction is given, and
(b)at the end of it there is in force in relation to it a disapplication under section 4A(1) of the Friendly and Industrial and Provident Societies Act 1968.
(5)In this paragraph—
“qualified auditor” means a person who is a qualified auditor for the purposes of the Friendly and Industrial and Provident Societies Act 1968;
“year of account” has the meaning given by section 21(1) of that Act.]]