BOOKS OF ACCOUNT AND OTHER INFORMATION SET OUT IN CLAUSE 4.2.2
(BOOKS OF ACCOUNT AND OTHER INFORMATION); AND
SUCH OTHER INFORMATION AS WOULD NORMALLY BE EXPECTED TO BE
CREATED, RECEIVED AND MAINTAINED AS EVIDENCE AND INFORMATION BY AN ORGANISATION
OR PERSON CARRYING ON THE BUSINESS OF THE CONTRACTOR IN PURSUANCE OF LEGAL
OBLIGATIONS OR IN THE TRANSACTION OF BUSINESS WHICH IS NOT ALREADY REQUIRED TO
BE KEPT BY THE CONTRACTOR PURSUANT TO CLAUSE OR CLAUSE AND WHICH
MAY BE REASONABLY REQUIRED BY THE AUTHORITY FROM TIME TO TIME IN ORDER TO COMPLY
WITH ITS STATUTORY FUNCTIONS AND/OR DUTIES OR OTHERWISE,
(TOGETHER THE "RECORDS") IN SUCH CONDITION, FORMAT AND DETAIL AS IS SUITABLE FOR
THEIR INTENDED PURPOSE, OR IN RELATION TO CLAUSE ABOVE AS REQUIRED BY
THE AUTHORITY, AND FOR THE PERIOD SPECIFIED IN CLAUSE 4.3 (RETENTION OF
RECORDS).
4.2.2
BOOKS OF ACCOUNT AND OTHER INFORMATION
BOOKS OF ACCOUNT
The Contractor shall maintain, on a current and accurate basis, books of account
relating to its activities under this Contract in accordance with:
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.1
UK GENERALLY ACCEPTED ACCOUNTING PRACTICE (UK GAAP), CONSISTING
OF ALL EXTANT STATEMENTS OF STANDARD ACCOUNTING PRACTICE (SSAPS), FINANCIAL
REPORTING STANDARDS (FRSS), URGENT ISSUES TASK FORCE ABSTRACTS AND ANY RELEVANT
INDUSTRY-SPECIFIC AUTHORITATIVE GUIDANCE; OR
.2
INTERNATIONAL GENERALLY ACCEPTED ACCOUNTING PRACTICE,
COMPRISING TO THE EXTENT ADOPTED BY THE EUROPEAN COMMISSION, ALL EXTANT
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRSS), INTERNATIONAL ACCOUNTING
STANDARDS (IASS), INTERPRETATIONS OF THE INTERNATIONAL FINANCIAL REPORTING
INTERPRETATIONS COMMITTEE AND ITS PREDECESSOR BODY, AND OTHER RELEVANT
INDUSTRY-SPECIFIC AUTHORITATIVE GUIDANCE; AND
.3
THE COMPANIES ACT 1985; AND
.4
PART 4 OF THE FINANCE SCHEDULE (COSTS PRINCIPLES AND
PROCEDURES); AND
.5
AN OPEN BOOK SYSTEM.
FURTHER INFORMATION
Without prejudice to information provided by the Contractor to the Authority
pursuant to this Contract the Contractor shall, provide to the Authority such
further information as the Authority may at any time reasonably request on
reasonable notice.
FINANCIAL INFORMATION
Without prejudice to the generality of Clause (Further Information), the
Contractor shall furnish to the Authority as soon as they become publicly
available and, in any event, not later than ninety (90) Calendar Days after the
close of its statutory accounting period a copy of the audited financial
statements of the Contractor, prepared in accordance with UK generally accepted
accounting principles and practices for such period, including in each case a
balance sheet prepared as at the end of such accounting period, a profit and
loss account, cash flow statement in respect of such accounting period and a
reconciliation of total Allowable Costs claimed within such accounting period.
AUTHORITY ACCOUNTS
The Contractor shall maintain, in accordance with the Authority's reasonable
instructions from time to time including as to its then current accounting
policy, on a current and accurate basis books of account recording the
Authority's interest in the Authority Assets and the Sites and any associated
liabilities.
4.3
Retention of Records
The Contractor shall retain all Records for either:
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4.3.1
A PERIOD