The paged version of this document contained the following header content in the margin: Part I
(3) The payments made to the Authority by virtue of subsection (2) shall not form part of the revenue of the Authority and, when received by the Authority, shall be paid to the Secretary of State.
(4) All sums received by the Secretary of State under subsection (3) shall be paid into the Consolidated Fund.
(5) Any payment made by a programme contractor to the Authority by virtue of subsection (2) in any accounting period shall be treated as relevant expenditure for the purposes of Schedule 4.
Grants by Authority to local sound programme contractors.
41.—(1) If, in the case of any local sound programme contractor, the Authority consider it necessary or expedient to do so for the purpose of enabling the Authority to discharge more fully the duties mentioned in subsection (2), they may make to contract that contractor a grant of such amount as they think fit.
(2) Those duties are the duties of the Authority under subsections (1) and (2) of section 2 in relation to local sound broadcasting services, and in particular their duties under subsection (2)(b) and (c) of that section to ensure that the programmes broadcast in each area maintain a high general standard in respect of their content and quality, and to secure a wide hearing for programmes of merit.
(3) A grant made to a local sound programme contractor section may be made on such conditions as the under this Authority think appropriate for securing that it is used only for specified purposes, being purposes which in the opinion of the Authority will be conducive to the achievement of the purpose mentioned in subsection (1).
(4) Any number of grants may be made to the same local sound programme contractor under this section.
(5) In this section " local sound programme contractor " means a person who is a programme contractor by virtue of a contract for the provision of local sound broadcasts.
Accounts, audit and annual reports
Accounts and audit.
42.—(1) The Authority shall keep proper accounts and proper records in relation to the accounts, and shall prepare in respect of each financial year a statement of accounts in such form as the Secretary of State with the approval of the Treasury may direct, being a form which shall conform with the best commercial standards.
(2) The accounts of the Authority shall be audited by auditors to be appointed by the Authority with the approval of the Secretary of State, and a person shall not be qualified to be so
