Att0unts and audit

(1) The Authority shall maintain books of account and such other books in such form and in such manner as may be prescribed and shall prepare in accordance with such rules an annual statement of account. (2) The Authority shall cause its account to be audited annually by ~n('h perc::o11 ;l~ the State Govt?rnmen!, may dir~t (3) As soon as the account of the Authority have been audited, the Authority shall send a copy thereof together with a copy of the report of the auditor thereon to the State Government. (4) The Authority shall comply with such direction as the State Government, may, after perusal of the report of the auditor, think fit to issue such direction. (5) The State Government shall, as soon as may be after the receipt of the audit report under sub-section (3) cause the same to be laid before the State Legislature.