7

1 The Commission shall keep proper accounts and financial records. 2 The Commission shall— a prepare a statement of accounts in respect of each financial year containing such information, and in such form, as the Secretary of State with the consent of the Treasury directs; and b send a copy to the Secretary of State and to the Comptroller and Auditor General within such period after the end of the financial year as the Secretary of State directs. 3 The Comptroller and Auditor General shall— a examine, certify and report on the statement of accounts; and b lay a copy of the statement of accounts and of his report before each House of Parliament. 4 For the purposes of this paragraph— a a financial year is a period of twelve months ending on 31st March; but b the first financial year is the period beginning with the day on which section 68 comes into force and ending with the first 31st March which falls at least six months after that day.