Board and all other assets vesting in the Board shall be held and applied by it for the purposes of this Act.

Account and audit.- (1) The Board shall maintain proper books of accounts and such other books as the rules under this Act may require, and shall prepare an annual statement of accounts in accordance with such rules.

1. (2) The Board shall cause its accounts to be audited annually by such persons as the State Government may direct.
2. (3) As soon as the accounts of the Board have been audited, the Board shall send a copy of thereof together with a copy of the report of the auditor thereon to the State Government; and shall cause the accounts to be published in the prescribed manner and place copies thereof on sale at a reasonable price. The audited accounts and the report shall be laid before each House of the State Legislature, as soon as may be after they are received by the State Government.
3. (4) The Board shall comply with such directions as the State Government may give after perusal of the accounts and report of the auditor.