Accounts and audit.

(1) The Board shall cause to be maintained proper books of accounts and such other books as may be prescribed and shall prepare an annual statement of the accounts at such time and in such manner as may be prescribed.

(2) The Board shall cause its accounts to be audited annually by such person as the State Government may direct.

(3) As soon as the accounts of the Board have been audited, the Board shall send a copy thereof together with a copy of the report of the auditor thereon to the State Government.

(4) The Board shall comply with such directions of the State Government as the State Government may after perusal of the report of the auditor think fit to give.

(5) The annual audited statement of accounts together with the report of the auditor received by the State Government under sub-section (3) shall be laid before the State Legislature as soon as possible. (c) is absent without the permission of the Board from three consecutive meetings of the Board or from all meetings of the Board for three consecutive months,

he shall cease to be a member of the Board. (2) The State Government may, by order, suspend from office for such period as it thinks fit, or remove from office, any member of the Board who in its opinion,-

(a) has refused to act, or

(b) has become incapable of acting, or

(c) has so abused his position as member as to render his continuance on the Board detrimental to the interest thereof or of the general public, or

(d) is otherwise unfit to continue as a member. to the budget estimates of local authorities generally or in relation to budget estimates of any local authority in particular;

(f) to make recommendations to the State Government or, as the case may be, any local authority, as to any other matter referred to the Board in the interests of sound municipal finance. (4) Where the Board is superseded, it shall be re-established and reconstituted in the manner provided in this Act on the expiration of the period of supersession.