Section 36 End of managementI1
Where a person ceases to be a manager during a financial year, the person must, no later than 3 months after the day on which the person ceases to be a manager—
prepare its report under section 26(1) and its statement of accounts under section 34 for that year, and
(other than where the person is the Scottish Ministers) send a copy of the report and of the statement to the Scottish Ministers (and sections 26(7) and 34(4) do not apply).
Subsection (3) applies where—
a person who is the manager of a Scottish Crown Estate asset transfers ownership of the asset, and
as a result, the person no longer manages any Scottish Crown Estate assets.
The person—
is to be treated for the purposes of this Part as if the person were a manager, and has all of the powers and duties applying to a manager under this Part, for so long as the person holds any money or investments forming part of the Scottish Crown Estate,
is to be treated as ceasing to be a manager when the person no longer holds any such money or investments.
Annotations
Commencement
- I1
S. 36 in force at 27.9.2021 by S.S.I. 2021/308, reg. 2, sch.