8(1)The [F1PC] must—E+W+S
(a)keep proper accounts and proper accounting records; and
(b)in respect of each financial year, prepare a statement of its accounts.
(2)Every statement of accounts prepared under sub-paragraph (1)(b) must—
(a)give a true and fair view of the [F1PC]'s income and expenditure for the financial year in question and its state of affairs; and
(b)comply with every requirement which the Secretary of State has notified to the [F1PC].
(3)The requirements notified under sub-paragraph (2)(b) may include, in particular, requirements relating to—
(a)the information to be contained in the statement;
(b)the manner in which that information is to be presented; and
(c)the methods and principles according to which the statement is to be prepared.
Textual Amendments
F1Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)
Commencement Information
I1Sch. 5 para. 8 in force at 24.7.2005 by S.I. 2005/1909, art. 2, Sch.