Biodiversity Conservation Act 2016

As soon as practicable after 30 June in each year, the Fund Manager is to prepare and deliver to the Minister an annual report on its management of the Biodiversity Stewardship Payments Fund during the financial year ending on that date.

The annual report must include copies of the financial statements and accounts of the Fund Manager for the financial year to which the report relates and an auditor’s report on those statements and accounts prepared by an auditor approved by the Minister.

If the regulations so require, the Fund Manager is, as soon as practicable after 31 March, 30 June, 30 September and 31 December in each year, to prepare and deliver to the Minister a quarterly report that summarises the financial position of the Fund and the performance of investments of money vested in the Fund during the immediately preceding 3 month period.

The Minister is to cause a copy of each annual and quarterly report to be published on a government website maintained by the Environment Agency Head as soon as practicable after it is delivered to the Minister. The Minister is to cause a copy of each annual report to be tabled in each House of Parliament.

The Fund Manager must take out and maintain a policy of indemnity insurance, in respect of the exercise of its functions as Fund Manager, that complies with any requirements specified by the Minister by notice in writing to the Fund Manager.

The regulations may vary the reporting obligations of the Fund Manager under this section (including in connection with any reporting obligations of the Biodiversity Conservation Trust under Part 10), and for that purpose consequentially amend this section.