Amendment status not verified — confirm the current text below against the official source.
No payment shall be made by a Bank out of the Board’s Fund, except upon a cheque or letter of credit signed by an officer serving under the Board duly authorised by the Board in this behalf. Annual Accounts and Financial Estimates 38.(1) The Annual Accounts of the Board shall be prepared by the Finance Committee under the direction of the Executive Council and shall be audited by the auditors appointed by the Board. (2) The accounts when audited shall be published by the Executive Council and a copy thereof shall, together with the copy of the audit report, be submitted to the Board. (3) The Finance Committee shall prepare, before such date and in such manner as may be prescribed, the budget estimates of income and expenditure for the next financial year. 412 (4) The annual accounts and the estimates as approved by the Executive Council, shall be submitted to the Board which shall consider and approve them with such modifications as it may deem fit. (5) The Board shall, after the approval of the budget estimates forward the same to the Government for its information. The Government may on scrutiny of the budget communicate such advice with respect to the budget estimates of the Board as it thinks fit, and it shall be the duty of the Board to strive to implement such advice. Annual Report