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Corporate Governance Framework

Our corporate governance framework sets out the necessary responsibilities and procedures that guarantee we operate properly.

Published
29 October 2021

Last updated
13 June 2024 - Changes

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  1. Contents
  2. 34 - Arrangements in the event that the Gambling Commission is wound up

34 - Arrangements in the event that the Gambling Commission is wound up

34.1 The sponsor department shall put in place arrangements to ensure the orderly winding up of the Gambling Commission. In particular it should ensure that the assets and liabilities of the Commission are passed to any successor organisation and accounted for properly. (In the event that there is no successor organisation, the assets and liabilities should revert to the sponsor department.) To this end, the department shall:

  • have regard to Cabinet Office guidance on winding up of Arms Length Bodies (ALB)17
  • ensure that procedures are in place in the Commission to gain independent assurance on key transactions, financial commitments, cash flows and other information needed to handle the wind-up effectively and to maintain the momentum of work inherited by any residuary body
  • specify the basis for the valuation and accounting treatment of the Commission’s assets and liabilities
  • ensure that arrangements are in place to prepare closing accounts and pass to the Controller and Auditor General (C&AG) for external audit, and that for non-Crown bodies funds are in place to pay for such audits. It shall be for the C&AG to lay the final accounts in Parliament, together with his report on the accounts
  • arrange for the most appropriate person to sign the closing accounts. In the event that another ALB takes on the role, responsibilities, assets and liabilities, the succeeding ALB Accounting Officer (AO) should sign the closing accounts. In the event that the department inherits the role, responsibilities, assets and liabilities, the sponsor department’s AO should sign.

34.2 The Commission shall provide the department with full details of all agreements where the Commission or its successors have a right to share in the financial gains of developers. It should also pass to the department details of any other forms of claw-back due to the Commission.

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