Paragraph 8 I1

(1)

The F1PC must—

(a)

keep proper accounts and proper accounting records; and

(b)

in respect of each financial year, prepare a statement of its accounts.

(2)

Every statement of accounts prepared under sub-paragraph (1)(b) must—

(a)

give a true and fair view of the PC's income and expenditure for the financial year in question and its state of affairs; and

(b)

comply with every requirement which the Secretary of State has notified to the PC.

(3)

The requirements notified under sub-paragraph (2)(b) may include, in particular, requirements relating to—

(a)

the information to be contained in the statement;

(b)

the manner in which that information is to be presented; and

(c)

the methods and principles according to which the statement is to be prepared.

Annotations

F1: Words in Sch. 5 substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(b)

F1: Words in Sch. 5 heading substituted (25.2.2010) by The Passengers’ Council (Non-Railway Functions) Order 2010 (S.I. 2010/439), art. 1, Sch. para. 9(7)(c)