The Commission shall keep proper accounts and other records in relation to its accounts and shall prepare in respect of each financial year a statement of account in such form as the Secretary of State may, with the approval of the Treasury, direct.

The statement of account prepared by the Commission in respect of each financial year shall be submitted to the Secretary of State before such date as he may, with the approval of the Treasury, direct.

The Secretary of State shall, on or before F230th June in each year, transmit to the Comptroller and Auditor General the statement of account prepared by the Commission for the financial year last ended.

The Comptroller and Auditor General shall examine and certify the statement of account transmitted to him under sub-paragraph (3) and shall lay before Parliament copies of the statement together with his report on it.

In this Schedule, “financial year” means the 12 months ending with F131st March in any year.