Clause 19

The Minister shall cause to be kept proper accounts and records of all transactions and affairs relating to the Endowment Fund and Edusave Pupils Fund and shall do all things necessary to ensure that all payments out of each Fund are correctly made and properly authorised and that adequate control is maintained over the assets and receipts of each Fund.

The Minister shall, as soon as practicable after the close of each financial year but not later than 30th June of each year, cause to be prepared and submitted financial statements in respect of that year to the auditor of the Endowment Fund and Edusave Pupils Fund.