(1) In this article "relevant trust RAC" means a trust RAC to which section 56 of the Act applies.

(2) The trustees of a relevant trust RAC shall, in accordance with section 56 of the Act, cause -

(a) the accounts of such a trust RAC to be audited by the auditor of the trust RAC in respect of each trust RAC year which commences on or after 1 June 2006, and

(b) the auditor's report to be prepared on the accounts,

as soon as reasonably practicable after the end of the trust RAC year.

(3) The audited accounts shall include the information specified in Schedule A to these Regulations which is applicable and material to the relevant trust RAC.

(4) The auditor's report on the accounts of the relevant trust RAC shall include -

(a) a statement whether, in his opinion, the requirements of sub-article (3) are satisfied;