Expenditure, etc., till the Board is established

All expenditure incurred by the State Government for or in connection with the matters related to the Board before its establishment shall be deemed to be expenditure of the Board. (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the profit and loss account and the balance sheet in such form as may be prescribed. (2) The accounts of the Board shall be audited annually by such auditor as the State Government may appoint in this behalf. (3) The annual accounts of the Board together with the audit report thereon shall be forwarded to the State Government and shall be laid before the State Legislature.