Amendment status not verified — confirm the current text below against the official source.
Accounts and audit.- (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed in consultation with the Accountant General of the State. (2) The accounts of the Board shall be audited annually by the office of the Accountant General of the State. (3) The accounts of the Board certified by the auditor, together with the audited report thereon shall be submitted annually to the State Government before such date as may be prescribed. (4) The Board shall comply with such directions as the State Government may, after perusal of the report of the auditor, think fit to issue. (5) The cost of the audit, as determined by the State Government, shall be paid out of the administrative cost of the Fund. (6) All monies forming part of the Fund shall be kept in current or deposit account with any Nationalized Bank or as may be prescribed.