99Reconciliation of bank accounts

99 Reconciliation of bank accounts

(1) The Secretary or, where the Secretary authorizes an officer for the purposes of this regulation, that officer shall, subject to, and in accordance with, any directions given by the Secretary of the Department of Finance, at least once in each month or at such more frequent intervals as are necessary to enable him to carry out his duties under these Regulations, obtain, in respect of each account kept by the Department at a bank, from the bank at which the account is kept:

(a) all cheques drawn on the account and paid by the bank during the period that has elapsed since last he obtained cheques of that kind; or

(b) a statement setting out the particulars of cheques so paid during the period that has elapsed since last he obtained such a statement;

or, if the directions given by the Secretary of the Department of Finance so require, both the cheques so paid and a statement setting out the particulars of the cheques so paid during such a period.

(2) The Secretary or, where the Secretary authorizes an officer for the purposes of this regulation, that officer shall, subject to, and in accordance with, any directions given by the Secretary of the Department of Finance:

(a) obtain, in respect of each account kept by the Department at a bank, from the bank at which the account is kept, at least once in each year, a certificate setting out the balance of the moneys standing to the credit of the Department’s account; and

(b) reconcile the balance of those moneys as set out in the certificate with the balance of the moneys that the records of the Department show as standing to the credit of the account.