Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall cause to be maintained proper books of accounts and such other books as may be prescribed and shall prepare an annual statement of the accounts at such time and in such manner as may be prescribed. (2) The Board shall cause its accounts to be audited annually by such person as the State Government may direct. (3) As soon as the accounts of the Board have been audited, the Board shall send a copy thereof together with a copy of the report of the auditor thereon to the State Government. (4) The Board shall comply with such directions of the State Government as the State Government may after perusal of the report of the auditor think fit to give. (5) The annual audited statement of accounts together with the report of the auditor received by the State Government under sub-section (3) shall be laid before the State Legislature as soon as possible. Powers of the Board. Execution of contract by Board. Boards Fund. Grants and subventions of the Board. Loans to the Board. Power to borrow. Accounts and audit. 1979 : Guj. 12 ] Gujarat Municipal Finance Board Act, 1979 9 of 12 CHAPTER V. MISCELLANEOUS.