Greater London Authority Bill - continued        House of Lords
PART III, FINANCIAL PROVISIONS - continued
Financial administration - continued

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Monitoring officer not to be chief finance officer etc.     118. - (1) Section 5 of the Local Government and Housing Act 1989 (designation and reports of monitoring officer) shall be amended as follows.
 
      (2) In subsection (8) (interpretation) in the definition of "chief finance officer" after "Local Government Finance Act 1988" there shall be inserted ", section 113(2) of the Greater London Authority Act 1999".
 
 
Accounts and audit
Application of the Audit Commission Act 1998.     119. - (1) In Schedule 2 to the Audit Commission Act 1998 (accounts subject to audit) in paragraph 1 (bodies to whose accounts section 2 applies) after paragraph (b) there shall be inserted-
 
 
    "(bb) the Greater London Authority;
 
    (bc) a functional body;".
      (2) Schedule 7 to this Act (which makes further amendments of the Audit Commission Act 1998) shall have effect.
 
Summary statement of accounts of Authority and functional bodies.     120. - (1) For each financial year the Authority shall prepare a summary statement of accounts.
 
      (2) The summary statement of accounts shall be in respect of the Authority and the functional bodies.
 
      (3) Subsection (1) above is without prejudice to any other duty of the Authority, or of a functional body, to prepare accounts or statements of accounts.
 
      (4) Section 14 of the Audit Commission Act 1998 (inspection of statements of accounts and auditors' reports) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to a statement of accounts prepared by the Authority under regulations under section 27 of that Act.
 
      (5) Sections 15 to 24 of the Audit Commission Act 1998 (public inspection etc and action by the auditor, and prevention of unlawful expenditure) shall not apply in relation to a summary statement of accounts required to be prepared under this section.
 
      (6) Section 27 of the Audit Commission Act 1998 (accounts and audit regulations) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to accounts or statements of accounts.
 
Information for purposes of section 120.     121. - (1) A functional body shall, at the request of the Mayor, provide the Authority with such information relating to any accounts or statement of accounts of the body as may be specified or described in the request.
 
      (2) The information shall be provided in such form and manner, and within such time, as may be specified in the request.
 
      (3) The information that may be requested under subsection (1) above is such information as may be required for the purpose of discharging the functions of the Authority under or by virtue of section 120 above.
 
 
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