Section 30
Accounts to be kept
of Education Endowment and Savings Schemes Act 1992
ActIn forceProvision 30 of 35
Section 30
(1)
The Minister must —
(a)
cause to be kept proper accounts and records of all transactions and affairs relating to the Endowment Fund, the Edusave Pupils Fund and the PSE Fund; and
(b)
do all things necessary to ensure that —
(i)
all payments out of each Fund are correctly made and properly authorised; and
(ii)
adequate control is maintained over the assets and receipts of each Fund.
(2)
The Minister must, as soon as practicable after the close of each financial year but not later than 30 June of each year, cause to be prepared and submitted to the auditor of each Fund financial statements in respect of that year for that Fund.[19