(1)

At the end of each financial year, the Authority shall prepare a budget, maintain proper accounts and other relevant records and prepare an annual statement of accounts in Form `ASA'.

(2)

The Authority shall preserve the accounts and other relevant records prepared under sub-rule (1) for a minimum period of five years.

(3)

The accounts and other relevant records under sub-rule (1) shall be signed by the Chairperson, Members, Secretary and the officer in-charge of Finance and Accounts.

(4)

The accounts of the Authority and the audit report shall, as soon as possible, be submitted to the Government for laying before the Parliament.