9.—(1) It shall be the duty of the Funding Council—
- (a) to keep proper accounts and proper records in relation to the accounts;
- (b) to prepare in respect of each financial year of the Funding Council a statement of accounts; and
- (c) to send copies of the statement to the Secretary of State and to the Comptroller and Auditor General before the end of the month of August next following the financial year to which the statement relates.