Private and Voluntary Health Care (Wales) Regulations 2002

Financial position

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

(2) The registered person shall, if the National Assembly so requests, provide it with such information and documents as it may require for the purpose of considering the financial viability of the establishment, including—

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

(b) the annual accounts of the organisation which is the registered provider of the establishment , certified by an accountant, together with accounts relating to the establishment itself.

(3) The registered person shall also provide the National Assembly with such other information as it may require in order to consider the financial viability of the establishment, including—

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

(b) information as to the financing and financial resources of the establishment ;

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

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

(4) In 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.