Supplementary and general

C212C1Meaning of “the audited net relevant resources”, “the value of the Reserve Fund” and “the income account net surplus of the Crown Estate”

1

For the purposes of this Act—

  • “the audited net relevant resources” used for a financial year are the amount of net relevant resources used for that year stated in the statement of accounts certified by the Comptroller under section 2,

  • “the value of the Reserve Fund” at the end of a financial year is the value of the Reserve Fund at the end of that year stated in the statement of accounts certified by the Comptroller under section 4, and

  • “the income account net surplus of the Crown Estate” for a financial year is the amount of that surplus stated in the statement of accounts certified by the Comptroller under section 2 of the Crown Estate Act 1961;

but this is subject to subsection (2).

2

If a relevant report on a statement of accounts contains a qualification (however expressed) that affects or might affect the amount or value stated in the statement as the amount or value of a relevant figure—

a

the Comptroller must certify in the relevant report the amount or value which the Comptroller considers to be the amount or value of the relevant figure, and

b

for the purposes of this Act the relevant figure is to be taken to be the amount or value certified.

3

For this purpose—

  • “relevant report” means a report made by the Comptroller under section 2 or 4 of this Act or section 2 of the Crown Estate Act 1961, and

  • “relevant figure” means—

    1. a

      the amount of net relevant resources used for a financial year,

    2. b

      the value of the Reserve Fund at the end of a financial year, or

    3. c

      the amount of the income account net surplus of the Crown Estate for a financial year.