Commentary on Sections and Schedules The Sovereign Grant Section 5: Annual report as to the amount of Sovereign Grant
56.This section requires the Royal Trustees to prepare a report about the determination of the Sovereign Grant. They must calculate the amount of Sovereign Grant for the coming financial year and explain how it has been calculated. Because the report is published and laid in Parliament, the whole process will be transparent.
57.Subsection (1) requires the Royal Trustees to prepare a report determining the amount of Sovereign Grant for the following financial year and explaining how it has been calculated, following the process in section 6.
58.To prepare the report, the Royal Trustees must draw on audited and published information about the previous financial year relating to: the Sovereign Grant (section 2); the Reserve Fund (section 4); and the Crown Estate. When all the relevant, audited financial information is available, subsection (2) requires the Trustees to prepare the report promptly.
59.Subsections (3) and (4) provide that the Royal Trustees must give a copy of the report to the Treasury who must lay it before Parliament.