Regulation 10 Composition and management of fund established under section 15(1)(c) of the Act

(1)

A fund established and maintained under section 15(1)(c) of the Act (funds in furtherance of joint working) shall be composed of payments from at least 2 contributors, one of whom shall be a local authority and one of whom shall be an NHS body.

(2)

The contributors to a fund established and maintained under section 15(1)(c) of the Act shall jointly nominate one contributor to exercise the functions set out in paragraph (3).

(3)

The functions referred to in paragraph (2) are–

(a)

holding the fund;

(b)

preparing and maintaining financial accounts in respect of the fund;

(c)

preparing the following–

(i)

quarterly reports on payments into and out of the fund;

(ii)

an annual return;

(iii)

an audited memorandum account; and

(iv)

such other information as is reasonably required by each contributor to enable that contributor to monitor the effectiveness of the agreement.

(4)

The reports, return and account referred to in paragraph (3)(c)(i) to (iii) shall be submitted to the other contributors as soon as practicable after they are prepared and, in the case of the information referred to in paragraph (3)(c)(iv), upon request.

(5)

The audited memorandum account shall be reproduced in the accounts of each contributor.