§ Mr. BanksI beg to move amendment No. 2, in page 8, leave out lines 6 to 13 and insert—
'(b) to prepare in respect of each financial year a statement of accounts which—
- (i) in the case of the liquidator, gives a full and true account of his receipts and payments and of any other acts and dealings during the year; and
- (ii) in the case of the Council, gives a true and fair view of the state of their affairs at the end of the year and of their income and expenditure for the year;
(c) as soon as may be after the end of each financial year, to have the accounts and the statement for the year audited by a qualified auditor; and(d) as soon as the accounts and statement have been audited, to send to the Secretary of State a copy of the statement together with a copy of any report by the auditor on the statement or on the accounts.'.This is a technical amendment, which is based upon suggestions made to me by the Consultative Committee of Accountancy Bodies. Its purpose is to bring the requirements of subsection (1)(a) to (d) more into line with modern accountancy procedures and practice.I am not an accountant. Nevertheless, I have received expert advice on the drafting of the amendment. I assure hon. Members that the wording is an improvement on the original. Accordingly, I commend the amendment to the Committee.
§ Mr. RaisonI, too, am not an accountant. However, I have no doubt that what my hon. Friend wants is desirable. The amendment is acceptable to the Government.
§ Amendment agreed to.
§ Clause 10, as amended, ordered to stand part of the Bill.
§ Clauses 11 to 13 ordered to stand part of the Bill.