The Adult Placement Schemes (England) Regulations 2004

CHAPTER 4 FINANCIAL MATTERS

Financial position

32.—(1) The registered provider shall carry on the scheme in such manner as is likely to ensure that it will be financially viable for the purpose of achieving the aims and objectives set out in the statement of purpose.

(2) Subject to paragraph (4), the registered person shall provide to the CSCI such information and documents as it may require in order to consider the financial viability of the scheme, including—

(a) the annual accounts of the scheme, certified by an accountant;

(b) a reference from a bank expressing an opinion as to the registered provider’s financial standing;

(c) information as to the financing and financial resources of the scheme;

(d) where the registered provider is a company, information as to any of its associated companies;

(e) a certificate of insurance for the registered provider in respect of any liability which may be incurred by him in relation to the scheme in respect of death, injury, public liability, damage or other loss.

(3) Subject to paragraph (4) the registered provider shall—

(a) ensure that adequate accounts are maintained in respect of the scheme and kept up to date;

(b) ensure that the accounts give details of the running costs of the scheme, including rent, payments under a mortgage and expenditure on salaries and wages of staff; and

(c) supply a copy of the accounts to the CSCI at its request.

(4) Paragraphs (2) and (3) do not apply where the registered provider is a local authority or a National Health Service body.

(5) For the purposes of this regulation, one company is associated with another if one of them has control of the other, or both are under the control of the same person.