Amendment status not verified — confirm the current text below against the official source.
(1) The balance-sheet and accounts of the Development Bank shall be prepared in such form and manner as may be prescribed. (2) The Board shall cause the books and accounts of the Development Bank to be closed and balanced as on the 30th day of June each year [or such other date, as the Central Government may, by notification in the Official Gazette, appoint]: [Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this sub-section, the Central Government may, by order published in the Official Gazette, make such provisions as it consider necessary or expedient for the closing and balancing of, or for other matters relating to, the books or accounts in respect of the concerned years.] Ins. by Act 35 of 1986, sec. 10 (w.e.f. 14/08/1986). Ins. by Act 66 of 1988, sec. 29 (w.e.f. 30/12/1988).