Regulation 5 Conditions applicable to all grants

The following conditions shall apply to the payment of all grants under these Regulations:—

(a)

the Company shall furnish such estimates of income and expenditure and such other information and returns to the Secretary of State as he may require;

(b)

the accounts shall be audited to the satisfaction of the Secretary of State, and the Company shall, if the Secretary of State intimates to it that he is not so satisfied, make such arrangements for the audit of its accounts as satisfy him; and

(c)

the Company shall submit to the Secretary of State, within three months after the end of the financial year or such longer period as the Secretary of State may approve-(i) a statement of the income which it has received and the expenditure which it has incurred in that year, which statement shall be certified by an auditor appointed by the Company and shall contain such information and shall be in such form as the Secretary of State may specify; and

(ii)

the accounts of the Company for that year.