Museums and Galleries Act 1992
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Change 1
9 Finance for, and accounts of, certain museums and galleries etc.
(1) The Secretary of State may out of money provided by Parliament pay to the bodies specified in Schedule 7 to this Act such sums towards their expenditure as the Treasury may approve. (2) Payments under this section may be made on such conditions as the Secretary of State may with the approval of the Treasury impose. (3) Each of the bodies specified in Schedule 7 to this Act shall keep proper accounts and proper records in relation to those accounts. (4) Each of those bodies shall prepare a statement of accounts in respect of each financial year, and that statement shall give a true and fair view of the state of the body’s affairs at the end of the financial year and of the body’s income and expenditure in the financial year. (5) The statement shall comply with any directions given by the Secretary of State, with the Treasury’s consent, as to— (a) the information which is to be contained in the statement; (b) the form which the statement is to take; (c) the manner in which the information is to be presented; or (d) the methods and principles according to which the statement is to be prepared. (6) Each of those bodies shall send their statement to the Secretary of State at such time as he may direct. (7) The Secretary of State shall, on or before 31st August in any year, send to the Comptroller and Auditor General the statements prepared under subsection (4) above for the financial year last ended. (8) The Comptroller and Auditor General shall examine, certify and report on each statement sent to him under subsection (7) above and shall lay copies of it and of his report before each House of Parliament. (9) In this section— . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . “financial year”, in relation to any body, means the period— beginning with the day appointed under section 11(4) below for the commencement of this section in relation to that body, and ending with 31st March following that day, and each successive period of twelve months.
9 Finance for, and accounts of, certain museums and galleries etc.
(1) The Secretary of State may out of money provided by Parliament pay to the bodies specified in Schedule 7 to this Act such sums towards their expenditure as the Treasury may approve. (2) Payments under this section may be made on such conditions as the Secretary of State may with the approval of the Treasury impose. (3) Each of the bodies specified in Schedule 7 to this Act shall keep proper accounts and proper records in relation to those accounts. (4) Each of those bodies shall prepare a statement of accounts in respect of each financial year, and that statement shall give a true and fair view of the state of the body’s affairs at the end of the financial year and of the body’s income and expenditure in the financial year. (5) The statement shall comply with any directions given by the Secretary of State, with the Treasury’s consent, as to— (a) the information which is to be contained in the statement; (b) the form which the statement is to take; (c) the manner in which the information is to be presented; or (d) the methods and principles according to which the statement is to be prepared. (6) Each of those bodies shall send their statement to the Secretary of State at such time as he may direct. (7) The Secretary of State shall, on or before 31st August in any year, send to the Comptroller and Auditor General the statements prepared under subsection (4) above for the financial year last ended. (8) The Comptroller and Auditor General shall examine, certify and report on each statement sent to him under subsection (7) above and shall lay copies of it and of his report before each House of Parliament. (9) In this section— . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . “financial year”, in relation to any body, means the period— beginning with the day appointed under section 11(4) below for the commencement of this section in relation to that body, and ending with 31st March following that day, and each successive period of twelve months.
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