Annual accounts and financial estimates

(1) The Board shall prepare the annual accounts and submit them to the State Government for audit. The State Government shall cause the accounts to be audited and the Board shall pay such charges for the audit as the State Government may, from time to time, determine.

1. (2) The Board shall prepare, before such date as may be prescribed, the financial estimates for the ensuing year and forward them to the State Government for its sanction. The State Government may pass such orders with reference thereto as it thinks fit and communicate the same to the Board and the Board shall give effect to such orders. 1[(3) The Board shall prepare and forward to the State Government in the prescribed manner within nine months from the end of the year an annual audited accounts and report giving a complete account of its activities during the previous year. Every such annual audited accounts and report shall be laid before each House of the State Legislature, as soon as may be, after it is received by the State Government. Explanation: – In this section ' year ' means the financial year.]1 1[(4) The Board shall comply with such directions as the State Government may after perusal of the Audited Statement of accounts and report, thinks fit to issue.]1

¹ Substituted by Act 9 of 2006 w.e.f. 26.4.2006.

¹ Inserted by Act 9 of 2006 w.e.f. 26.4.2006.