Chapter V GRANTS, ACCOUNTS AND AUDIT AND ANNUAL REPORT

The State Government may, make to the Authority, grants of such sums of money as it may think fit for being utilised for the purposes of this Act;

1. (1) The Authority shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the Government;
2. (2) The accounts of the Authority shall be audited annually by the Comptroller and Auditor-General of India at such intervals as may be specified by him and any expenditure incurred in connection with such audit shall be payable by the Authority to the Comptroller and Auditor-General.
3. (3) The Authority shall prepare, once in every year, and in such form and manner and at such time as may be prescribed, an annual report giving---
   • (a) a description of all the activities of the Authority for the previous years;
   • (b) the annual accounts for the previous year; and
   • (c) the programmes of work for coming year.
4. (4) A copy of the report received under sub-section (2) shall be laid by the State Government, as soon as may be after it is received, before each House of Legislature.