Section 16

The Board shall prepare in respect of each financial year ending on 31st March a statement of account in a form approved by the Minister.

The Board shall keep proper accounts and records of its transactions and affairs and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorised and that adequate control is maintained over the assets of, or in the custody of, the Board and over the expenditure incurred by the Board.