Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis: 19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project; 19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and 19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19. 19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail: 19.2.1 income (including Public Sector Subsidy and receipts); 19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis; 19.2.3 payments made to Subcontractors; 19.2.4 capital and revenue expenditure; 19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and 19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 8 contracts
Samples: Approved Provider Grant Agreement, Approved Provider Grant Agreement, Grant Agreement
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 7 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 : at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 20.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 and at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 20. Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 : administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 ; payments made to Subcontractors;
19.2.4 ; capital and revenue expenditure;
19.2.5 ; VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authorityRelevant Authority; and
19.2.6 and such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested. The Grant Recipient must provide the GLA with access on an Open Book basis to all information held by it, its Affiliates, Subcontractors and consultants which relates to the viability of the Development Site and such other information as the GLA may reasonably require to conduct (itself or through a third party) to verify income, expenditure or estimated expenditure for the purposes of any of the provisions of this Agreement.
Appears in 5 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Open Book Obligations. 19.1 17.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 17.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Project Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 17.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Project Costs referred to in Condition 19.1.1 17.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 17.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1917.
19.2 17.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any the relevant Named Project) in accordance with good accountancy practice with respect to all each Named Projects Project showing in detail:
19.2.1 17.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 17.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 17.2.3 payments made to Subcontractors;
19.2.4 17.2.4 capital and revenue expenditure;
19.2.5 17.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authorityCompetent Authority; and
19.2.6 17.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 28 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 4 contracts
Samples: Capital Grant Agreement, Capital Grant Agreement, Capital Grant Agreement
Open Book Obligations. 19.1 The Grant Recipient 20.1 Each Relevant Consortium Member shall on an Open Book Basis:
19.1.1 20.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 20.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 20.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient Relevant Consortium Member of its obligations under this Agreement; and
19.1.3 20.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1920.
19.2 20.2 Compliance with the above shall require the Grant Recipient each Relevant Consortium Member to keep (and where appropriate to procure that any Subcontractor or Consortium Member Affiliate shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient Relevant Consortium Member or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 20.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 20.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 20.2.3 payments made to Subcontractors;
19.2.4 20.2.4 capital and revenue expenditure;
19.2.5 20.2.5 VAT incurred on all items of expenditure where the Grant Recipient Relevant Consortium Member has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient Relevant Consortium Member of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 20.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient each Relevant Consortium Member shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 4 contracts
Samples: Consortium Grant Agreement, Consortium Grant Agreement, Consortium Grant Agreement
Open Book Obligations. 19.1 12.1. The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 12.1.1. at all times maintain a full record of particulars of all the income (including Public Sector Subsidythe Grant and any Additional Funds) received and Development Costs incurred by the Grant Recipient in respect each Named of the Project;
19.1.2 12.1.2. at all times when reasonably required to do so by the GLACouncil, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Clause
12.1.1 as the GLA Council may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 12.1.3. at all times provide such access or facilities as the GLA Council may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19Clause 12.
19.2 12.2. Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor Sub-Contractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor Sub- Contractor and which do not directly relate to any Named the Project) in accordance with good accountancy practice with respect to all Named Projects the Project showing in detail:
19.2.1 12.2.1. all income (including Public Sector Subsidy the Grant and receiptsany Additional Funds);
19.2.2 12.2.2. administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 12.2.3. payments made to SubcontractorsSub-Contractors;
19.2.4 12.2.4. capital and revenue expenditure;
19.2.5 12.2.5. VAT incurred on all items of expenditure where the The Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 12.2.6. such other items item as the GLA Council may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and shall use its reasonable endeavours to procure that to the extent expressly agreed the Subcontractors Sub-Contractors shall have) the books of account evidencing the items listed in this Condition Clause available for inspection by the GLA Council (and any person appointed pursuant to the dispute resolution provisions at Condition 26 Clause 16 to determine a dispute or otherwise authorised by the GLACouncil) upon reasonable notice, and shall submit a report of these to the GLA Council as and when requested.
Appears in 3 contracts
Samples: Grant Funding Agreement, Grant Funding Agreement, Grant Funding Agreement
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect of each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 3 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Open Book Obligations. 19.1 16.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Project Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Project Costs referred to in Condition 19.1.1 16.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any the relevant Named Project) in accordance with good accountancy practice with respect to all each Named Projects Project showing in detail:
19.2.1 16.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 16.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 16.2.3 payments made to Subcontractors;
19.2.4 16.2.4 capital and revenue expenditure;
19.2.5 16.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authorityCompetent Authority; and
19.2.6 16.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 2 contracts
Open Book Obligations. 19.1 20.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 20.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 20.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 20.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 20.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1920.
19.2 20.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 20.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 20.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 20.2.3 payments made to Subcontractors;
19.2.4 20.2.4 capital and revenue expenditure;
19.2.5 20.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 20.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 2 contracts
Samples: Grant Agreement, Grant Agreement
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Project Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Project Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any the relevant Named Project) in accordance with good accountancy practice with respect to all each Named Projects Project showing in detail:
19.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 28 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 2 contracts
Open Book Obligations. 19.1 17.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 17.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Project Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 17.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Project Costs referred to in Condition 19.1.1 17.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 17.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1917.
19.2 17.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any the relevant Named Project) in accordance with good accountancy practice with respect to all each Named Projects Project showing in detail:
19.2.1 17.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 17.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 17.2.3 payments made to Subcontractors;
19.2.4 17.2.4 capital and revenue expenditure;
19.2.5 17.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 17.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 2 contracts
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to SubcontractorsSubcontractors and the Developer;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Developer Led Grant Agreement
Open Book Obligations. 19.1
14.1 The Grant Recipient Developer shall on an Open Book Basisbasis:
19.1.1 14.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient Developer in respect each Named ProjectFirm Scheme;
19.1.2 14.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
14.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient Developer of its obligations under this Agreement; and
19.1.3 14.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1914.
19.2 14.2 Compliance with the above shall require the Grant Recipient Developer to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient Developer or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 14.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 14.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 14.2.3 payments made to Subcontractors;
19.2.4 14.2.4 capital and revenue expenditure;
19.2.5 14.2.5 VAT incurred on all items of expenditure where the Grant Recipient Developer has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient Developer of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 14.2.6 such other items item as the GLA Agency may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient Developer shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 23 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested.
Appears in 1 contract
Samples: Framework Delivery Agreement
Open Book Obligations. 19.1 17.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 17.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 17.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 17.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 17.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1917.
19.2 17.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 17.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 17.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 17.2.3 payments made to Subcontractors;
19.2.4 17.2.4 capital and revenue expenditure;
19.2.5 17.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 17.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Framework Delivery Agreement
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to SubcontractorsSubcontractors and the Developer;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Developer Led Grant Agreement
Open Book Obligations. 19.1 17.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 17.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 17.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 17.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 17.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1917.
19.2 17.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 17.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 17.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 17.2.3 payments made to Subcontractors;
19.2.4 17.2.4 capital and revenue expenditure;
19.2.5 17.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; andrate
19.2.6 17.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Framework Delivery Agreement
Open Book Obligations. 19.1 The Grant Recipient 16.1 Each Relevant Consortium Member shall on an Open Book Basisbasis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
16.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient Relevant Consortium Member of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient each Relevant Consortium Member to keep (and where appropriate to shall procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient Relevant Consortium Member or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 16.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 16.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 16.2.3 payments made to Subcontractors;
19.2.4 16.2.4 capital and revenue expenditure;
19.2.5 16.2.5 VAT incurred on all items of expenditure where the Grant Recipient Relevant Consortium Member has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient Relevant Consortium Member of such VAT as input tax from HM Revenue & Customs or other competent authority;
16.2.6 any balances in any account or fund held for the purpose of servicing any debts relating to the relevant Firm Scheme; and
19.2.6 16.2.7 such other items item as the GLA Agency may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient each Relevant Consortium Member shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested.
Appears in 1 contract
Samples: Framework Delivery Agreement
Open Book Obligations. 19.1 16.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
16.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor Grant Recipient Affiliate shall keep) on an Open Book Basis (in accordance with generally accepted accounting practice) separate books of account (from those for items relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and Affordable Housing which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all identify items of expenditure where Decision Revenue, the Firm Scheme Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 Decision Allowable Costs and such other items item as the GLA Agency may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition 16 available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested.
Appears in 1 contract
Samples: Empty Homes Agreement
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Costs incurred by the Grant Recipient in respect of each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Grant Agreement
Open Book Obligations. 19.1
16.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Project Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Project Costs referred to in Condition 19.1.1 16.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any the relevant Named Project) in accordance with good accountancy practice with respect to all each Named Projects Project showing in detail:
19.2.1 16.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 16.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 16.2.3 payments made to Subcontractors;
19.2.4 16.2.4 capital and revenue expenditure;
19.2.5 16.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authorityCompetent Authority; and
19.2.6 16.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Capital Grant Agreement
Open Book Obligations. 19.1 16.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
16.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor Grant Recipient Affiliate shall keep) on an Open Book Basis (in accordance with generally accepted accounting practice) separate books of account (from those for items relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and Affordable Housing which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all identify items of expenditure where Decision Revenue, the Firm Scheme Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 Decision Allowable Costs and such other items item as the GLA Agency may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the ;
16.3 The Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition 16 available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested
17.1 The Grant Recipient must comply with the Transparency Code.
17.2 If and to the extent that, the Transparency Code is not binding upon the Grant Recipient, the Grant Recipient acknowledges that:
17.2.1 where the Allocated Grant (itself or if aggregated with other AHP 2015/18 Funds or funds made available under (i) any subsequent Agency capital funding programme or (ii) any Previous Programme) exceeds £3,000,000, the Grant Recipient must publish details quarterly of all expenditure in excess of £500 incurred by it in delivering Firm Schemes by such means as ensures that such details can be accessed by the general public; and
17.2.2 except for any information which is exempt from disclosure in accordance with the FOIA, and notwithstanding any other term of this Agreement, the Grant Recipient hereby consents for the Agency to publish such information as it considers appropriate in relation to the AHP, including, but not limited to, details of the Approved Bid, Development Costs and funding for Firm Schemes, including from time to time agreed changes to this information.
17.3 The Grant Recipient shall assist and cooperate with the Agency to enable the Agency to publish the information referred to in Condition 17.2.2.
Appears in 1 contract
Samples: Empty Homes Agreement
Open Book Obligations. 19.1 The Grant Recipient 18.1 Each Relevant Consortium Member shall on an Open Book Basisbasis:
19.1.1 18.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 18.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 18.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient Relevant Consortium Member of its obligations under this Agreement; and
19.1.3 18.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1918.
19.2 18.2 Compliance with the above shall require the Grant Recipient each Relevant Consortium Member to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient Relevant Consortium Member or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 18.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 18.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 18.2.3 payments made to Subcontractors;
19.2.4 18.2.4 capital and revenue expenditure;
19.2.5 18.2.5 VAT incurred on all items of expenditure where the Grant Recipient Relevant Consortium Member has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient Relevant Consortium Member of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 18.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.;
Appears in 1 contract
Samples: Consortium Delivery Agreement
Open Book Obligations. 19.1 20.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 20.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 20.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 20.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 20.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1920.
19.2 20.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 20.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 20.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 20.2.3 payments made to Subcontractors;
19.2.4 20.2.4 capital and revenue expenditure;
19.2.5 20.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 20.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Approved Provider Grant Agreement
Open Book Obligations. 19.1 17.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 17.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 17.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 17.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 17.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1917.
19.2 17.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any the relevant Named Project) in accordance with good accountancy practice with respect to all each Named Projects Project showing in detail:
19.2.1 17.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 17.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 17.2.3 payments made to Subcontractors;
19.2.4 17.2.4 capital and revenue expenditure;
19.2.5 17.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 17.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Grant Agreement
Open Book Obligations. 19.1 16.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
16.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 16.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 16.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 16.2.3 payments made to Subcontractors;
19.2.4 16.2.4 capital and revenue expenditure;
19.2.5 16.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 16.2.6 such other items item as the GLA Agency may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested.
Appears in 1 contract
Samples: Framework Delivery Agreement
Open Book Obligations.
19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Grant Agreement
Open Book Obligations. 19.1 13.1. The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 13.1.1. at all times maintain a full record of particulars of all the income (including Public Sector Subsidythe Grant and any Additional Funds) received and Development Costs incurred by the Grant Recipient in respect each Named of the Project;
19.1.2 13.1.2. at all times when reasonably required to do so by the GLACouncil, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Clause 13.1.1 as the GLA Council may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 13.1.3. at all times provide such access or facilities as the GLA Council may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19Clause 13.
19.2 13.2. Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor Sub-Contractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor Sub- Contractor and which do not directly relate to any Named the Project) in accordance with good accountancy practice with respect to all Named Projects the Project showing in detail:
19.2.1 13.2.1. all income (including Public Sector Subsidy the Grant and receiptsany Additional Funds);
19.2.2 13.2.2. administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 13.2.3. payments made to SubcontractorsSub-Contractors;
19.2.4 13.2.4. capital and revenue expenditure;
19.2.5 13.2.5. VAT incurred on all items of expenditure where the The Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 13.2.6. such other items item as the GLA Council may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and shall use its reasonable endeavours to procure that to the extent expressly agreed the Subcontractors Sub-Contractors shall have) the books of account evidencing the items listed in this Condition Clause available for inspection by the GLA Council (and any person appointed pursuant to the dispute resolution provisions at Condition 26 Clause 17 to determine a dispute or otherwise authorised by the GLACouncil) upon reasonable notice, and shall submit a report of these to the GLA Council as and when requested.
Appears in 1 contract
Samples: Grant Funding Agreement
Open Book Obligations. 19.1
15.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 15.1.1 at all times maintain a full record of particulars of all the income (including Public Sector SubsidyFunding) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 15.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 15.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 15.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1915.
19.2 15.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 15.2.1 income (including Public Sector Subsidy Funding and receipts);
19.2.2 15.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 15.2.3 payments made to Subcontractors;
19.2.4 15.2.4 capital and revenue expenditure;
19.2.5 15.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authorityGLA; and
19.2.6 15.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition 15 available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 20 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
15.3 The Grant Recipient must provide the GLA with access on an Open Book basis to all information held by it, its Affiliates, Subcontractors and consultants which relates to the viability of the Site and such other information as the GLA may reasonably require to conduct (itself or through a third party) to verify income, expenditure or estimated expenditure for the purposes of any of the provisions of this Agreement.
Appears in 1 contract
Samples: Traveller Pitch Funding Agreement
Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
19.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named Project;
19.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 19.
19.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.
Appears in 1 contract
Samples: Grant Agreement
Open Book Obligations. 19.1 The Grant Recipient 16.1 Each Relevant Consortium Member shall on an Open Book Basisbasis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
16.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient Relevant Consortium Member of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient each Relevant Consortium Member to keep (and where appropriate to shall procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient Relevant Consortium Member or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 16.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 16.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 16.2.3 payments made to Subcontractors;
19.2.4 16.2.4 capital and revenue expenditure;
19.2.5 16.2.5 VAT incurred on all items of expenditure where the Grant Recipient Relevant Consortium Member has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient Relevant Consortium Member of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 16.2.6 such other items item as the GLA Agency may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient each Relevant Consortium Member shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested.
Appears in 1 contract
Samples: Grant Agreement
Open Book Obligations. 19.1 17.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 17.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 17.1.2 at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 17.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 17.1.3 at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1917.
19.2 17.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 17.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 17.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 17.2.3 payments made to Subcontractors;
19.2.4 17.2.4 capital and revenue expenditure;
19.2.5 17.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 17.2.6 such other items item as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, ; and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.this
Appears in 1 contract
Samples: Framework Delivery Agreement
Open Book Obligations. 19.1
14.1 The Grant Recipient Developer shall on an Open Book Basis:
19.1.1 14.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient Developer in respect of each Named ProjectFirm Scheme;
19.1.2 14.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
14.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient Developer of its obligations under this Agreement; and
19.1.3 14.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1914.
19.2 14.2 Compliance with the above shall require the Grant Recipient Developer to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient Developer or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 14.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 14.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 14.2.3 payments made to Subcontractors;
19.2.4 14.2.4 capital and revenue expenditure;
19.2.5 14.2.5 VAT incurred on all items of expenditure where the Grant Recipient Developer has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient Developer of such VAT as input tax from HM Revenue & Customs or other competent authority; and;
19.2.6 14.2.6 such other items item as the GLA Agency may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement; and
14.2.7 items of Decision Revenue, the Firm Scheme Grant and Decision Allowable Costs, and the Grant Recipient Developer shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 23 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested.
Appears in 1 contract
Samples: Delivery Agreement
Open Book Obligations. 19.1 16.1 The Grant Recipient shall on an Open Book Basisbasis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
16.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor Grant Recipient Affiliate shall keep) separate books of account on an Open Book Basis (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail:with
19.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 payments made to Subcontractors;
19.2.4 capital and revenue expenditure;
19.2.5 VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the 16.3 The Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition 16 available for inspection by the GLA Agency (and any person appointed pursuant to the dispute resolution provisions at Condition 26 25 to determine a dispute or otherwise authorised by the GLAAgency) upon reasonable notice, and shall submit a report of these to the GLA Agency as and when requested
17.1 The Grant Recipient must comply with the Transparency Code.
17.2 If and to the extent that, the Transparency Code is not binding upon the Grant Recipient, the Grant Recipient acknowledges that:
17.2.1 where the Allocated Grant (itself or if aggregated with other AHP 2015/18 Funds or funds made available under (i) any subsequent Agency capital funding programme or (ii) any Previous Programme) exceeds £3,000,000, the Grant Recipient must publish details quarterly of all expenditure in excess of £500 incurred by it in delivering Firm Schemes by such means as ensures that such details can be accessed by the general public; and
17.2.2 except for any information which is exempt from disclosure in accordance with the FOIA, and notwithstanding any other term of this Agreement, the Grant Recipient hereby consents for the Agency to publish such information as it considers appropriate in relation to the AHP, including, but not limited to, details of the Approved Bid, Development Costs and funding for Firm Schemes, including from time to time agreed changes to this information.
17.3 The Grant Recipient shall assist and cooperate with the Agency to enable the Agency to publish the information referred to in Condition 17.2.2.
Appears in 1 contract
Samples: Empty Homes Agreement
Open Book Obligations. 19.1 The Grant Recipient 16.1 Each Relevant Consortium Member shall on an Open Book Basisbasis:
19.1.1 16.1.1 at all times maintain a full record of particulars of all the income (including Public Sector Subsidy) received and Development Costs incurred by the Grant Recipient in respect each Named ProjectFirm Scheme;
19.1.2 16.1.2 at all times when reasonably required to do so by the GLAAgency, provide a summary of any of the income and Development Costs referred to in Condition 19.1.1 Condition
16.1.1 as the GLA Agency may reasonably require to enable it to monitor the performance by the Grant Recipient Relevant Consortium Member of its obligations under this Agreement; and
19.1.3 16.1.3 at all times provide such access or facilities as the GLA Agency may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 1916.
19.2 16.2 Compliance with the above shall require the Grant Recipient each Relevant Consortium Member to keep (and where appropriate to shall procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient Relevant Consortium Member or Subcontractor and which do not directly relate to any Named ProjectFirm Scheme) in accordance with good accountancy practice with respect to all Named Projects Firm Schemes showing in detail:
19.2.1 16.2.1 income (including Public Sector Subsidy and receipts);
19.2.2 16.2.2 administrative overheads where directly attributed or where apportioned on a pro rata basis;
19.2.3 16.2.3 payments made to Subcontractors;
19.2.4 16.2.4 capital and revenue expenditure;
19.2.5 16.2.5 VAT incurred on all items of expenditure where the Grant Recipient Relevant Consortium Member has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient Relevant Consortium Member of such VAT as input tax from HM Revenue & Customs or other competent authority; and
19.2.6 such other items as the GLA may reasonably require to conduct (itself 16.2.6 any balances in any account or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, fund held for the purpose of servicing any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that debts relating to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 26 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested.relevant Firm Scheme; and
Appears in 1 contract
Samples: Framework Delivery Agreement
