Accounts and audit
126. (1) The Board shall maintain proper accounts of the grant referred to in section 125 and other relevant records and prepare an annual statement of the accounts in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India.
(2) The accounts of the grant shall be audited by the Comptroller and Auditor-General of India at such intervals as may be specified by him.
(3) The Comptroller and Auditor-General of India and any other person appointed by him in connection with the audit of the accounts of the grant shall have the same rights and privileges and authority in connection with such audit as the Comptroller and Auditor-General generally has in connection with the audit of the Government accounts.
(4) The accounts of the grant as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before each House of Parliament.
