(1)The Fund Management Committee shall maintain such books of accounts which are specified in Rule 8 and other hooks in relation to its accounts and prepare an annual statement of accounts and balance sheet in such form and in such manner as may be specified by the Government. The Fund Manager shall in accordance with the instructions issued by the State Government from time to time keep the fund under PD Account.(2)The accounts of the Fund Management Committee shall be audited by such auditor in such manner and at such time as the State Government may, by general or special order, direct and the auditor so appointed shall have the powers of requiring the production of documents and the furnishing of information in respect of such matters.(3)The accounts of the Fund Management Committee as certified by (he auditor together with the audit report thereon shall be forwarded annually to the State Government within six months from closure of the accounting year and the State Government may issue such directions to the Fund Management Committee as it may deem fit and the Fund Management Committee shall comply with such directions.
