OpenLegislation

Paragraph 25

England and Wales

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

A public benefit corporation must prepare in respect of each financial year annual accounts in such form as F1NHS England may with the approval of F2the Secretary of State direct.

F3(1A)

F4NHS England may with the approval of the Secretary of State direct a public benefit corporation—

(a)

to prepare accounts in respect of such period or periods as may be specified in the direction;

(b)

that any accounts prepared by it by virtue of paragraph (a) are to be audited in accordance with such requirements as may be specified in the direction.

(2)

In preparing its annual accounts F5or in preparing any accounts by virtue of sub-paragraph (1A)(a), the corporation must comply with any directions given by F6NHS England with the approval of F7the Secretary of State as to—

(a)

the methods and principles according to which the accounts must be prepared,

(b)

the F8content and form of the accounts.

(3)

In determining the form and content of the annual accountsF9, or of any accounts to be prepared by it by virtue of sub-paragraph (1A)(a), F10NHS England must aim to ensure that the accounts present a true and fair view.

(4)

The corporation must—

(a)

lay a copy of the annual accounts, and any report of the auditor on them, before Parliament, and

(b)

F11... send copies of those documents to F12NHS England F13within such period as NHS England may direct.

F14(4A)

The corporation must send to F15NHS England within such period as NHS England may direct—

(a)

a copy of any accounts prepared by the corporation by virtue of sub-paragraph (1A)(a), and

(b)

a copy of any report of an auditor on them prepared by virtue of sub-paragraph (1A)(b).

(5)

The constitution must provide for the functions of the corporation under this paragraph to be delegated to the accounting officer.

(6)

In this paragraph and paragraph 27 “financial year” means—

(a)

the period beginning with the date on which the corporation is authorised under section 35 and ending with the next 31st March, and

(b)

each successive period of twelve months beginning with 1st April.

Annotations

Textual amendments

F1

Words in Sch. 7 para. 25(1) substituted (1.7.2022) by Health and Care Act 2022 (c. 31), s. 186(6), Sch. 5 para. 31(3)(a); S.I. 2022/734, reg. 2(a), Sch. (with regs. 13, 29, 30)

F2

Words in Sch. 7 para. 25(1) substituted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(3), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F3

Sch. 7 para. 25(1A) inserted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(4), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F4

Words in Sch. 7 para. 25(1A) substituted (1.7.2022) by Health and Care Act 2022 (c. 31), s. 186(6), Sch. 5 para. 31(3)(b); S.I. 2022/734, reg. 2(a), Sch. (with regs. 13, 29, 30)

F5

Words in Sch. 7 para. 25(2) inserted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(5)(a), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F6

Words in Sch. 7 para. 25(2) substituted (1.7.2022) by Health and Care Act 2022 (c. 31), s. 186(6), Sch. 5 para. 31(3)(c); S.I. 2022/734, reg. 2(a), Sch. (with regs. 13, 29, 30)

F7

Words in Sch. 7 para. 25(2) substituted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(5)(b), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F8

Words in Sch. 7 para. 25(2) substituted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(5)(c), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F9

Words in Sch. 7 para. 25(3) inserted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(6), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F10

Words in Sch. 7 para. 25(3) substituted (1.7.2022) by Health and Care Act 2022 (c. 31), s. 186(6), Sch. 5 para. 31(3)(c); S.I. 2022/734, reg. 2(a), Sch. (with regs. 13, 29, 30)

F11

Words in Sch. 7 para. 25(4)(b) omitted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by virtue of Health and Social Care Act 2012 (c. 7), ss. 154(7)(a), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F12

Words in Sch. 7 para. 25(4) substituted (1.7.2022) by Health and Care Act 2022 (c. 31), s. 186(6), Sch. 5 para. 31(3)(c); S.I. 2022/734, reg. 2(a), Sch. (with regs. 13, 29, 30)

F13

Words in Sch. 7 para. 25(4)(b) inserted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(7)(b), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F14

Sch. 7 para. 25(4A) inserted (27.3.2012 for specified purposes, 1.10.2012 in so far as not already in force) by Health and Social Care Act 2012 (c. 7), ss. 154(8), 306(1)(d)(4); S.I. 2012/1831, art. 2(2)

F15

Words in Sch. 7 para. 25(4A) substituted (1.7.2022) by Health and Care Act 2022 (c. 31), s. 186(6), Sch. 5 para. 31(3)(c); S.I. 2022/734, reg. 2(a), Sch. (with regs. 13, 29, 30)