Amendment status not verified — confirm the current text below against the official source.
(1) The Authority shall prepare a budget, maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form, as may be prescribed by the Government in consultation with the Comptroller and Auditor General of India. (2) The accounts of the Authority shall be audited by the Comptroller and Auditor General at such intervals, as may be specified by him and any expenditure incurred in connection with such audit shall be payable by the Authority to the Comptroller and Auditor General. (3) The Accounts of the Authority, as certified by the Comptroller and Auditor General or any other person appointed by him in this behalf, together with the audit report thereon shall be forwarded annually to the Government by the Authority and the Government shall cause the audit report to be laid, as soon as may be after it is received, before the State Legislature.