Transport Act 2000

Accounts and funds

5 Regulations made by the appropriate national authority may make provision for—

(a) the keeping of accounts relating to trunk road charging schemes, and

(b) the preparation and publication of statements of such accounts.

6 (1) An account relating to a relevant scheme which is not a trunk road charging scheme shall be kept for each financial year by the relevant authority or jointly by the relevant authorities.

(2) A statement of every such account shall be prepared for each financial year by the relevant authority or authorities and published in the annual accounts of the relevant authority, or of each of the relevant authorities, for the financial year.

(3) Regulations made by the appropriate national authority may make—

(a) further provision relating to accounts required to be kept under this paragraph (including provision requiring or allowing the keeping of consolidated accounts relating to more than one relevant scheme), and

(b) further provision relating to the preparation and publication of statements of such accounts.

7 (1) At the end of each financial year any deficit in an account required to be kept under paragraph 6 shall be made good by the relevant authority or authorities.

(2) Any surplus in such an account may (so far as not made available for any purpose in accordance with this Schedule) be applied by the relevant authority or authorities towards making good any amount used to make good a deficit in respect of the account in the ten years immediately preceding the financial year.

(3) So much of any surplus as remains after the application of sub-paragraph (2) shall be carried forward in the account to the next financial year.

(4) A relevant scheme made by more than one authority must make provision specifying or for determining—

(a) the proportion of any deficit which each authority shall make good, and

(b) the proportion of any surplus which each authority may apply in accordance with sub-paragraph (2).

(5) Any deficit required to be made good shall be made good—

(a) in the case of a Welsh county council or county borough council, from its general account,

(b) in the case of Transport for London, from its gross income, and

(c) in the case of any other non-metropolitan local traffic authority or London traffic authority, from its general fund.