Amendment status not verified — confirm the current text below against the official source.
(1) The Authority shall maintain books of account and such other books in such form and in such manner as may be prescribed and shall prepare in accordance with such rules an annual statement of account. (2) The Authority shall cause its account to be audited annually by ~n('h perc::o11 ;l~ the State Govt?rnmen!, may dir~t (3) As soon as the account of the Authority have been audited, the Authority shall send a copy thereof together with a copy of the report of the auditor thereon to the State Government. Budget. Annual Report. Subvenhons and loans tc Authority. Power of Authority to borrow money, Att0unts and audit. 31- 12 Penalty for breach of provisions of the Act. Offences by companies. GUJARAT GOVERNMENT GAZE1TE EX. 9-11-2006 [PART-N (4) The Authority shall comply with such direction as the State Government, may, after perusal of the report of the auditor, think fit to issue such direction. (5) The State Government shall, as soon as may be after the receipt of the audit report under sub-section (3) cause the same to be laid before the State Legislature. CHAPTER VI OFFENCES AND PENALTIES