Clause 18

The Board shall keep proper accounts and records of all transactions and affairs relating to the EduSave Fund and shall do all things necessary to ensure that all payments out of that Fund are correctly made and properly authorised and that adequate control is maintained over the assets and receipts of that Fund.

The Board shall, as soon as practicable after the close of each financial year but not later than 30th June of each year, prepare and submit financial statements in respect of that year to the auditor of the EduSave Fund.