Valid from 01/01/2002
3(1)Section 42—U.K.
(a)shall not impose any duty on the treasurer of the party in relation to any financial matter relating to any accounting unit; but
(b)shall apply with any necessary modifications to the treasurer of each such unit so as to make provision for or in connection with requiring the preparation, in respect of each financial year, of a statement of accounts relating to financial matters relating to the unit.
(2)In its application in relation to any such statement of accounts, section 42(2)(b) shall be read as requiring approval—
(a)by the management committee of the unit, if there is one; and
(b)otherwise by an officer of the unit other than its treasurer.
(3)In its application in relation to a party with accounting units or (as the case may be) to any accounting unit, section 42(4)(a) shall be read as if the reference to the gross income or total expenditure of the party were—
(a)to the gross income or total expenditure of the party exclusive of any income or expenditure of any accounting unit, or
(b)to the gross income or total expenditure of the unit,
as the case may be.