Section 67 Accounts of ... development corporations.F11

England and Wales

(1)

F1... every development corporation—

(a)

shall keep proper accounts and other records in relation to those accounts, and

F2(b)

shall F3... prepare in respect of each financial year annual accounts in such form as the Secretary of State may with the Treasury’s approval direct, F4...

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(1A)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

The financial year F6... of every development corporation shall begin with 1st April F7but, if the Secretary of State, with the approval of the Treasury, so directs in a case where a development corporation F8... is to be dissolved, the final financial year of the corporation ... shall be such period as is specified in the direction, and references in this Act to a financial year in relation to a development corporation ... shall be construed accordingly.

(3)

Without prejudice to the generality of subsection (1) above, the Secretary of State may, with the Treasury’s approval, give directions to F9... a development corporation as to—

(a)

the kind or number of accounts which F10it is to keep.

(b)

the amounts which are or are not to be credited or debited to any account,

(c)

the manner of rectifying any account,

(d)

provision for working balances,

and any such direction may be a general direction or a direction for a particular case.

Annotations

Textual amendments

F1: Words in s. 67(1) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(3)(a), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F2: S. 67(1)(b) substituted by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 9(a)
F3: Word in s. 67(1)(b) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(3)(b), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F4: Words in s. 67(1) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(3)(c), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F5: S. 67(1A) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(4), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F6: Words in s. 67(2) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(5)(a), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F7: Words substituted by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 9(b)
F8: Words in s. 67(2) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(5)(b), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F9: Words in s. 67(3) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(6)(a), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F10: Words in s. 67(3)(a) substituted (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(6)(b); S.I. 2009/803, art. 3(1)
F11: Words in s. 67 heading repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 20(2), Sch. 16; S.I. 2009/803, arts. 3(1), 10