Amendment status not verified — confirm the current text below against the official source.
(1) The Regulatory Authority shall during each financial year prepare an Annual Report of the working of the Regulatory Authority and all work undertaken during the year, together with Balance Sheet and Audited Accounts, in such form and at such time as may be prescribed, giving a true and full account of Its activities during the previous financial year and an account of the activities likely to be undertaken by it in current financial year. A draft of the Annual Report along with the Audited Accounts of the Regulatory Authority, and the Auditor's Report thereon, shall be placed before it in its Annual Meeting for approval and copies of such report shall be forwarded to the State Government. (2) The State Government shall cause every such report to be laid before the State Legislature as soon as may be after the receipt of the report under sub-section (1) of this section. CHAPTER V SAFETY OF VESSELS Design construction and survey of new vessels.