Maintenance of Accounts and Audit

(1) The accounts of the Farmer Organization shall be maintained in such manner as may be prescribed. (2) The accounts of the Farmer Organization shall be audited annually by a Chartered Accountant or such other auditor as may be notified by the Government. The audit report shall be placed before the General Body of the Association within 6 months of the close of the financial year. The audit report shall be submitted to the competent authority for verification and record. The President of a farmers' organisation may be removed by the members of the Managing Committee of the same farmers' organisation through a resolution passed by two-third members of such managing committee.