Annual summary accounts

(1) At the end of each financial year the accounts as a whole shall be balanced and summary accounts and Balance Sheet shall be prepared namely– (a) a consolidated Income and Expenditure Account for the Fund as a whole; (b) the Income and Expenditure Account in respect of each of the three Benefit Branches specified in Regulation 3; (c) a Balance Sheet for the Fund as a whole; 218 Social Security (d) an account supplementary to the Balance Sheet showing the current transactions of the Disablement and Death Benefit Reserve. (2) The accounts and Balance Sheet specified in paragraph (1) shall show the details specified in the financial and accounting orders. (3) Subject to paragraph (3) of Regulation 16, the Income and Expenditure Accounts shall show the income and expenditure recorded during the financial year and the Balance Sheet shall show the liabilities and assets of the Fund as at the end of the financial year. (4) The accounts and Balance Sheet specified in this Regulation shall be prepared as soon as practicable after the end of the financial year and shall be submitted to the Board not later than the 31st day of March; Provided that if the Board is satisfied that for certain practical reasons the accounts could not be submitted to it by such date, it may extend the said date by a period not exceeding thirty days. theIncome and