The objection statements shall be returned, with the least possible delay, over the dated initials of the head of the office of the local authority together with an explanation with reference to the objection or a statement of the action taken or proposed to be taken to meet the objections raised, and where necessary, shall also contain replies to the enquiries made by the auditor. All objection statements shall be returned to the auditor with least possible delay, in any case within one or three days before the close of the audit, according as he may direct, irrespective of the fact whether all the objections have been fully answered or not.
2 [If the head of office of the Local Authority fails to return the objection memo within the prescribed time, it will be presumed that the objection is accepted and the audit will be at liberty to take such action as warranted under the rules.]