# Financial Services Act 2012, Paragraph 19


After paragraph 7 insert—
“Audit of accounts
7A (1) The scheme operator must send a copy of its annual accounts to the Comptroller and Auditor General as soon as is reasonably practicable.
(2) The Comptroller and Auditor General must—
(a) examine, certify and report on accounts received under this paragraph, and
(b) send a copy of the certified accounts and the report to the Treasury.
(3) The Treasury must lay the copy of the certified accounts and the report before Parliament.
(4) The scheme operator must send a copy of the certified accounts and the report to the FCA.
(5) Except as provided by paragraph 7(5), the scheme operator is exempt from the requirements of Part 16 of the Companies Act 2006 (audit), and its balance sheet must contain a statement to that effect.
(6) In this paragraph “annual accounts” has the meaning given by section 471 of the Companies Act 2006.”

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/11/paragraph/19 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-11/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.