Communications Regulation (Postal Services) Act 2011

31.

Universal postal service accounting obligations.

31.— (1) Where all or any of the conditions specified in subsection (2) are met, the Commission may give a direction providing for the keeping by a universal postal service provider, in its internal accounting system, of separate accounts for each service it provides—

( a) which is part of the universal postal service, and

( b) which is not part of the universal postal service.

(2) The conditions referred to in subsection (1) are as follows:

( a) that a sharing mechanism has been established under section 36 ;

( b) that the Commission is satisfied that a universal postal service provider is in receipt of State assistance;

( c) that the Commission is satisfied that competition in the market for postal services is not fully effective.

(3) A direction given under subsection (1) shall provide for—

( a) rules relating to the identification of costs,

( b) rules relating to the allocation of costs,

( c) rules relating to the use of internal cost accounting systems for the purposes of the matters referred to in paragraphs (a) and (b),

( d) the verification by a statutory auditor or statutory audit firm of compliance with internal cost accounting systems,

( e) the publication of such accounts and other information relating to requirements under this section and such direction, as the Commission considers appropriate, subject to the protection of any information which the Commission considers confidential (within the meaning of section 24 of the Principal Act),

( f) the publication of a statement relating to compliance with this section and such direction, and

( g) such other matters relating to the requirements of this section and such direction, as the Commission considers appropriate.

(4) The Commission shall keep available, to an adequate level of detail, information on the cost accounting systems applied by a universal postal service provider, and shall submit such information to the European Commission on request.

(5) A universal postal service provider shall make available in confidence to the European Commission, on request, detailed accounting information arising from its cost accounting systems.

(6) This section is in addition to, and not in substitution for, the provisions of the Companies Acts relating to the preparation of accounts and their audit.