# Industrial Organisation and Development Act 1947, Section 7: Reports, and accounts, of development councils.

Extent: E+W+S

(1) A development council shall prepare and transmit to the Board or Minister concerned annually a report setting out what has been done in the discharge of their functions during their financial year last completed.
(2) The report shall include a statement of the accounts of the council for that year, and shall be transmitted as soon as the accounts therefor have been audited, together with a copy of any report made by the auditors ... on the accounts.
( 2A ) A person shall not be appointed to audit a council’s accounts unless he is eligible for appointment as a statutory auditor under Part 42 of the Companies Act 2006.
(2B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) The statement of accounts shall be in such form as the Board or Minister concerned may direct, being a form which shall conform with the best commercial standards, and the statement shall show the total of remuneration and allowances paid during the year to members of the council.
(3A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) A copy of each such report of a council, or made by the auditors on their accounts, shall be laid before Parliament by the Board or Minister concerned.

---
Source: https://www.legislation.gov.uk/ukpga/Geo6/10-11/40/section/7 (the official version)
Page: https://openlegislation.uk/industrial-organisation-and-development-act-1947/section-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.