(1) The Authority shall maintain properaccounts and other relevant records and prepare an annual statemenl of accounts in such form as may be prescribed by the Govemment in consultation with theAccountant General.
(2) The accounts of the Authority shall be audited by lhe Accountant 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 Accountant General.
(3) The Accountant General and any person appointed by him in connection with the audit of the accounts ol the Authority under this Act shall have the same rights and privileges and authority in connection with such audit as theAccountant General generally has in connection with the audit of Government accounts and , in particular, shall have the right to demand the production ol books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Authority.
Grants and advances lo Authority.
Budget ot Authority.
Accounts of Authority.
Annual Report of Authoriy.
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(4) The accounts of the Authority, as certified by the Accountant General or any olher person appointed by him in this behalf, together with the audit report thereon shall be lorwarded annually to the State Government by theAuthority and lhe State Government shall cause the audit report to be laid , within a period of six months from the date of its receipt, before the State Legislature.