Clause 13

Every Medifund committee shall cause to be kept proper accounts and records of all transactions and affairs relating to its Medifund Account and shall do all things necessary to ensure that all payments are correctly made and properly authorised and that adequate control is maintained over the moneys and receipts of its Medifund Account.

Every Medifund committee shall, as soon as practicable after the close of the accounting period of its Medifund Account 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 Medifund Account.

The accounting period of a Medifund Account shall begin on 1st April of each year and end on 31st March of the succeeding year except that the first accounting period shall begin on the date of the establishment of the Account and shall end on 31st March of the succeeding year.