An Act to make new provision in place of the Crown Lands Acts 1829 to 1936 as to the powers exercisable by the Crown Estate Commissioners for the management of the Crown Estate, to transfer to the management of the Minister of Works certain land of the Crown Estate in Regent’s Park and extend or clarify the powers of that Minister in Regent’s Park, to amend the Forestry (Transfer of Woods) Act 1923 as it affects the Crown Estate, to amend the law as to escheated land, and for purposes connected therewith.
It shall be the general duty of the Commissioners, while maintaining the Crown Estate as an estate in land (with such proportion of cash or investments as seems to them to be required for the discharge of their functions), to maintain and enhance its value and the return obtained from it, but with due regard to the requirements of good management.
The Commissioners shall prepare for each financial year statements of account in such form as the Treasury may direct, and shall transmit them to the Comptroller and Auditor-General not later than the end of November in the following financial
year.
The Comptroller and Auditor-General shall examine and certify the accounts transmitted to him under this section, and shall lay before each House of Parliament copies of the accounts, together with his report thereon.
It is an independent business of the government to manage UK buildings, shoreline, seabed, forestry, agriculture, and common land. The business generates valuable revenue for the government.
