PART 5FR Scheme Administration

The Responsible OfficerI123

1

The FR Scheme administrator must designate the person who acts as its Chief Executive Officer as the responsible officer of the FR Scheme.

2

The responsible officer has the following responsibilities in relation to the FR Scheme—

a

accountability to Parliament for the stewardship of the FR Scheme, including management of its finances;

b

accountability to Parliament for the economy, efficiency and effectiveness with which the FR Scheme administrator uses resources in discharging its functions under the FR Scheme;

c

accountability to Parliament for propriety and regularity in the operation of the FR Scheme;

d

accountability to Parliament in respect of any reports laid under regulation 24;

e

the laying of a copy of the audited accounts of the FR Scheme and the annual report of its auditor before Parliament, no later than 3 months after the end of the financial year to which those accounts and annual report apply.