SCHEDULES
SCHEDULE 1Office for Budget Responsibility
Annual report
I115
1
The Office must prepare a report of the performance of its functions in each financial year.
2
The report must include, in particular, an assessment by the Non-executive Committee of the extent to which the Office's duty under section 4 has been performed in accordance with section 5(1) and (2).
3
The report relating to a financial year must be prepared as soon as possible after the end of the financial year.
4
The report must be sent to the Treasury.
5
The Treasury must lay the report before Parliament.
6
The Office must publish the report.
7
“Financial year” means—
a
the period which begins with the day on which this Schedule comes into force and ends with the following 31 March;
b
each successive period of 12 months.