18.—(1) For the purposes of section 52(5)(b), for each financial year in which a local education authority provide a school inspection service, the authority must keep accounts in respect of the service provided by them in that year.
(2) In this regulation—
“financial year” (“blwyddyn ariannol”) means a period of twelve months beginning with 1 April; and
“school inspection service” (“gwasanaeth arolygu ysgolion”) has the meaning given in section 52(2).