18.—(1) Schedule 18 to the Leasehold Reform, Housing and Urban Development Act 1993(1) (finances of the Urban Regeneration Agency) is amended as follows.
(2) In paragraph 9 (accounts of the Agency), after sub-paragraph (4) insert—
“(5) The Agency shall send a copy of the statement of accounts prepared under sub-paragraph (3) in respect of each financial year ending on or after 31st March 2005 to the Comptroller and Auditor General as soon as reasonably practicable after the end of the financial year to which the accounts relate.”.
(3) In paragraph 10 (audit of accounts of the Agency)—
(a)in sub-paragraph (1)—
(i)after “Agency’s accounts” insert “in respect of financial years ending on or before 31st March 2004”, and
(ii)after “statements of accounts” insert “in respect of those financial years”, and
(b)after sub-paragraph (2) insert—
“(3) The Comptroller and Auditor General shall examine, certify and report on each statement of accounts sent to him under paragraph 9(5).”.
(4) In paragraph 12 (annual reports of the Agency)—
(a)in sub-paragraph (1)(b), after “audited statement of accounts for that year” insert “(and, where the Comptroller and Auditor General has audited the statement, a copy of his report on it)”, and
(b)in sub-paragraph (2), after “report” insert “of the Agency”.