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 [F1or 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 [F1or 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
F1Words 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
I1Sch. 5 para. 25 in force at 8.7.2005 by S.I. 2005/1831, art. 2
