212Reports on council investments

212 Reports on council investments

212 Reports on council investments

(1) The responsible accounting officer of a council—

(a) must provide the council with a written report (setting out details of all money that the council has invested under section 625 of the Act) to be presented—

(i) if only one ordinary meeting of the council is held in a month, at that meeting, or

(ii) if more than one such meeting is held in a month, at whichever of those meetings the council by resolution determines, and

(b) must include in the report a certificate as to whether or not the investment has been made in accordance with the Act, the regulations and the council’s investment policies.

(2) The report must be made up to the last day of the month immediately preceding the meeting.

Note.

Section 625 of the Act specifies the way in which a council may invest its surplus funds.