Amendment status not verified — confirm the current text below against the official source.
(1) All fees payable and prescribed under this act shall be paid to the Council. (2) An account of all assets and liabilities of the Council and of all fees, sums, grants, donations, gifts and endowments received by it and of all expenses and disbursements incurred or made by it shall be maintained in the Prescribed manner. (3) The account shall be audited annually in such manner and by such officer or authority as may be prescribed. A copy of the audit report shall be submitted to the State Government by the Council. (4) The Council shall prepare in the Prescribed manner a budget for every financial year showing the probable receipt and expenditure, which shall be submitted to the State Government for approval.