Horserace Betting and Olympic Lottery Act 2004

25 (1) The Distributor shall— E+W+S

(a) keep proper accounting records, and

(b) prepare a statement of accounts in respect of each financial year.

(2) The Distributor shall send a copy of a statement under sub-paragraph (1)(b)—

(a) to the Secretary of State [F1 or the Paymaster General], and

(b) to the Comptroller and Auditor General.

(3) A copy of a statement must be sent under sub-paragraph (2) within such period, beginning with the end of the financial year to which the statement relates, as the Secretary of State [F1 or the Paymaster General] may, with the consent of the Treasury, direct.

(4) The Comptroller and Auditor General shall—

(a) examine, certify and report on a statement received under this paragraph, and

(b) lay a copy of the statement and his report before Parliament.

Textual Amendments

F1 Words in Sch. 5 para. 25 inserted (22.8.2007) by Transfer of Functions (Olympics and Paralympics) Order 2007 (S.I. 2007/2129), art. 1(2), Sch. para. 2(i) (with art. 4)

Commencement Information

I1 Sch. 5 para. 25 in force at 8.7.2005 by S.I. 2005/1831, art. 2