For section 16 of the principal Act, the following section shall be substituted, namely: — "16. Accounts and audit.—{1) The Administration shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the profit and loss account and the balance sheet in such form as may be prescribed by the Central Government in consultation with the Comptroller" and Auditor-General ctf India.
(#) The accounts of the Administration shall be audited annually by the Comptroller and Auditor-General of India and any expenditure incurred by him in connection with such audit shall be payable by the Administration to the Comptroller and Auditor-General of Indja.
(3) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the Administration shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the audit of Government accounts and in particular, 3hall have the right to demand the production of bodks, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Administration.
(4) The accounts of the Administration as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before both Houses of Parliament."
RAJENDRA PRASAD, President.
K. Y. BHANDARKAR, Secy, to the Govt. of India.
MINTED IN INDIA BY THE MANAGER, OOVT. Or INDIA PRESS, NEW DELHI *WP PUBLMJHID BY THE MANAGER OF PUBLICATIONS, DELHI, 1053