Section 18

The Board shall keep proper accounts and other records of the Board and of the National Maritime Fund and shall prepare in respect of each financial year a statement of accounts.

The accounts of the Board shall be audited by the Auditor-General or by an auditor appointed by the Board with the approval of the Minister.

So soon as the accounts of the Board and of the Fund have been audited in accordance with subsection (2), a copy of the statement of accounts, signed by the Chairman and certified by the auditor, together with a copy of any report made by the auditor in respect thereof, shall be submitted to the Minister.

The Minister shall cause a copy of every such statement of accounts and of the auditor’s report to be presented to Parliament.