Accounts and Audit

(1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the income and expenditure account and the balance sheet in such form as may be prescribed. (2) The accounts of the Board shall be audited annually by an auditor appointed by the Government. No suit or other legal proceeding shall lie against any Director of the Board or any other person in respect of anything which is in good faith done or intended to be done under this Act or under the scheme. (1) The fund shall be administered by the Board. (2) The Board may, with the prior approval of the Government, appoint such officers and staff as it considers necessary for the efficient performance of its functions under this Act. (3) The terms and conditions of service of the officers and staff appointed under sub-section (2) shall be such as may be determined by the Board with the approval of the Government.