(1) The Authority shall ensure maintenance of proper and separate accounts and other relevant records in relation to the Fund giving therein the details of all receipts to, and, expenditure from, the Fund and other relevant particulars.
(2) The accounts referred to in sub regulation (1) shall be prepared and audited before the expiry of six months from the end of each financial year.
Explanation.— For the purpose of this sub-regulation, “financial year” means the period from the 1 st day of April of a year to the 31 st day of March of the following year.
(3) The Authority may invest the Subscriber Education and Protection Fund corpus in any of the following instruments:—
(a) Central Government securities;
(b) deposits with scheduled commercial banks;
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(c) liquid funds regulated by the Securities and Exchange Board of India with the highest credit rating from a recognised rating agency.
(d) any other financial instruments deemed fit for investment by the Authority from time to time.
(4) The accounts of the Fund shall be audited in the manner as considered appropriate by the Authority.
CHAPTER V MISCELLANEOUS