Section 2A DirectionsF1

(1)

A relevant person must comply with any directions given to it by the Treasury under this section.

(2)

For the purposes of this section, a “relevant person” means—

(a)

a person who—

(i)

has entered into arrangements to which this Act applies (see section 2(1)) (whether before or after the passing of this Act), and

(ii)

has been classified as a public sector body by the Office for National Statistics (whether before or after the passing of this Act), or

(b)

a group undertaking of a person falling within paragraph (a) (within the meaning of section 1161 of the Companies Act 2006).

(3)

The Treasury may direct a relevant person to appoint a person to perform the functions of an accounting officer.

(4)

The Treasury may give a direction to a relevant person under this subsection if the Treasury consider it necessary for the purpose of ensuring compliance with any requirements associated with the classification, as mentioned in subsection (2)(a)(ii), of a person falling within subsection (2)(a).

(5)

Directions under subsection (4) may include provision about compliance with requirements relating to—

(a)

auditing;

(b)

accounting;

(c)

budgeting;

(d)

arm’s length bodies;

(e)

public sector bodies.

(6)

Before giving a direction under this section the Treasury must consult the relevant person to whom the Treasury intend to give a direction.

(7)

A direction under this section must be accompanied by a notice that—

(a)

states when the direction takes effect (see subsection (8)), and

(b)

gives the Treasury’s reasons for giving the direction.

(8)

A direction may, if the Treasury reasonably consider it necessary, take effect—

(a)

immediately it is given to the relevant person, or

(b)

on a later date specified in the direction.

(9)

A direction may be given so as to have effect—

(a)

for a specified period, or

(b)

until the occurrence of a specified event.

(10)

A direction under this section must be given in writing.

(11)

A direction under this section must—

(a)

be published in whatever manner the Treasury consider appropriate, and

(b)

be laid before Parliament.

(12)

A direction under this section may be varied or revoked by another direction under this section.

Annotations

Textual amendments

F1: Ss. 2A, 2B inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 74(2), 86(2)(j)

Notes on the whole Act

Textual amendments

F1: Words substituted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 121 (with saving in art. 7)