Sch 1 para 40
(1) The Commission shall— (a) keep proper accounting records, and (b) prepare a statement of accounts in respect of each financial year in such form as the Secretary of State may direct. (2) The Commission shall send a copy of a statement under sub-paragraph (1)(b) to— (a) the Secretary of State , and (b) the Comptroller and Auditor General. (3) A copy of a statement must be sent under sub-paragraph (2) within such period, beginning with the end of the financial year to which the statement relates, as the Secretary of State may direct. (4) The Comptroller and Auditor General shall— (a) examine, certify and report on a statement received under this paragraph, and (b) lay a copy of the statement and his report before Parliament. (5) The Secretary of State may make a direction under sub-paragraph (1)(b) only with the consent of the Treasury.