Clause 12

The Minister shall, as soon as practicable after the close of each financial year, cause to be prepared and submitted financial statements in respect of that year to the Auditor-General who shall audit and report on them.

In this section, the financial year of the Pension Fund shall begin on 1st April of each year and end on 31st March of the succeeding year, except that the first financial year shall begin on the commencement of this Act and end on 31st March of the succeeding year.