Paragraph 3

Each of the Research Councils shall keep proper accounts and other records, and shall prepare for each financial year statements of account in such form as the F1Secretary of State with the approval of the Treasury may direct and submit those statements of account to the Secretary of Stateat such time as he may direct.

The Secretary of State shall, on or before the 30th November in any year, transmit to the Comptroller and Auditor General the statements of account of each Council for the financial year last ended.

The Comptroller and Auditor General shall examine and certify the statements of account transmitted to him under this paragraph, and lay copies of them together with his report thereon before each House of Parliament.