# The Grant-aided Colleges (Scotland) Grant Regulations 1989, Regulation 5: Conditions of all grants


The following conditions shall apply to the payment of all grants under these Regulations:—
(a) the governing body shall furnish such estimates of income and expenditure and shall give such other information to the Secretary of State as he may require;
(b) the governing body shall keep proper accounts;
(c) the accounts shall be prepared and audited to the satisfaction of the Secretary of State;
(d) the governing body shall submit audited accounts to the Secretary of State as soon as possible after the end of each financial year;
(e) the books and other documents relating to the governing body’s accounts shall be open to inspection by the Secretary of State and by the Comptroller and Auditor General;
(f) the governing body shall not, without the prior written consent of the Secretary of State, borrow from any source or give any guarantee or indemnity; and
(g) the governing body shall comply with any requirements of regulations made under section 77 of the Education (Scotland) Act 1980 and any requirements imposed by these Regulations.

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Source: https://www.legislation.gov.uk/uksi/1989/433/regulation/5 (the official version)
Page: https://openlegislation.uk/grant-aided-colleges-scotland-grant-regulations-1989/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.